Coal news and updates

CIL’s disinvestment unlikely before Nov-Dec: sources

The proposed disinvestment in Coal India Ltd (CIL) is unlikely to happen before November-December, 2016, informed sources said.

“In all possibility, the government is not going to move for CIL’s disinvestment before the end of the calendar year, so because the current market condition is just not suitable for fetching a good price,” the sources said.

In fact, the CIL unions recently deferred their proposed strike on March 29 much on the same ground.

“It does not carry much sense to hold the strike if the government does not move for disinvestment anytime soon,” said an office-bearer of AICWF.

The unions deferred the strike following a meeting with the coal minister on March 14 and a separate meeting with the CIL management subsequently.