In order to tackle the coal price surge, the Power Ministry is pushing for abolition of Customs duty on imported coal. The Ministry is trying to garner the support of the Planning Commission on the issue, which is expected to be countered by the Finance Ministry in light of the revenue implications.
Power project developers setting up units that are to run on imported coal have raised conÂcerns about the hike in prices of imported coal from countries such as Indonesia and Australia. These countries have chÂaÂnged their coal pricing methodology in recent months, leading to prices skyrocketing.
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