Coal Price Hike News: You may have to pay more for electricity bills this summer because coal can be expensive for power houses. Coal India has indicated to increase the price of coal in the coming days. Coal India Chairman Pramod Agarwal has said that there is a strong case for increasing coal prices and prices can be increased soon. He said that talks are also going on in this direction with the stakeholders.
The chairman of Coal India said that Coal India has not increased the prices of coal for the last five years. He said that this year talks have also taken place regarding Wage Hike of the employees, this may affect the financial health of Coal India, especially Coal India’s subsidiary whose manpower cost is very high.
Pramod Aggarwal said that if Coal India does not increase the price of coal, then it can create many problems. He told that by 2025-26, the target of producing one billion tonnes of coal has definitely been achieved.
Although it is not so easy for Coal India to increase the price of coal this year. Lok Sabha elections are going to be held next year in 2024. The increase in the price of coal means that the cost of many industries including energy, cement will be affected by this decision, due to which inflation is expected to increase. In such a situation, there is doubt about whether the central government gives the green signal to increase the price of coal.
On the other hand, despite the big fall in the Stock Exchanges, there is a slight decline of 2.39 percent in the share of Coal India. The share of Coal India is trading at Rs 216.35 on the stock exchanges, down by Rs 5.35.
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