(ET)
India’s Coal Minister Pralhad Joshi said on Wednesday the units of Coal India Ltd should be allowed to independently set fuel prices in a bid to increase competition and reduce the price of coal in the country.
State-run Coal India, the world’s largest coal mining company by output, has seven units and accounts for more than four fifths of domestic production. It sets the price of various grades of coal in India after consultation with stakeholders. “We agree that coal subsidiaries should discover their coal price independently so that there is competition and efficiency is driven,” Joshi said in a statement.
