CIL should remain as PSU

Kolkata Coal India Chairman Pramod Agrawal said on Thursday that the company should continue to remain as a "government entity" in the future to maintain "price stability" of the dry fuel in the country and suggested an alternative methodology for coal pricing in future.

In an interview a day before his term ends as the head of Coal India on June 30, Agrawal said unlocking value cannot be the "sole" purpose of all enterprises. As a government-owned entity, Coal India holds the responsibility of ensuring that the benefits of coal production are distributed to the public, he said.

Agrawal also pointed out that the miner's identity is synonymous with the country's energy sector, and the present structure with CIL as the apex holding company is "strong and stable". "We have seen severe price escalation in international coal prices last year. In such a scenario, private companies would have stepped up their prices as well. However, for a government agency like Coal India, such a situation is unlikely," Agrawal said while responding to a question on whether the miner should continue to be a government entity to unlock its value.