New Delhi: State-run monopoly Coal IndiaNSE 0.58 % is in severe stress due to Rs 17,000 crore dues mounted on account of non-payment by power plants and might go for its firstever bond issue to raise working capital, coal secretary Anil Jain said, ruling out the possibility of giving suppliers credit to consumers or lowering coal prices.
Private power plants have been asking CIL to waive advance payment obligation, while all other consumers seek reduction in coal prices as its stocks have touched record 75 million tonnes. Non-Power sector has been demanding relief from CIL in the form of equal pricing similar to the power sector.
ET had on March 30 reported that power and renewable energy minister R K Singh had written to coal minister Pralhad Joshi seeking exemption from advance payment for coal.
