Coal news and updates

CIL unions urge govt to announce withdrawal of divestment

December 13: Even as the government gives out broad hints at dropping the disinvestment proposal for Coal India Ltd (CIL), trade unions have urged the coal ministry (MoC) to make a formal announcement, failing which the latter will face continued opposition from the unions and the three-day strike scheduled for December 17-19.

"We want the coal ministry to come out with a statement. Otherwise, we will continue with our campaign and opposition," a senior union leader told ICMW.

According to some sources, he said, the government is actually considering "deferring and not dropping" the proposal of disinvestment. "We want the government to make clear its stand first. Only then will we reconsider the strike."

He, however, welcomed reports that the government is considering other avenues of revenue mobilisation such as higher dividend from CIL and repurchase of its shares.

Industry sources said the government is not likely to go for the disinvestment as it may pose a significant "political risk" before the general elections next year.