CIL has no plans for bond issue despite soaring dues from power firms
Coal India Ltd (CIL) has no plan to go for long term borrowing by issuing bonds even though its outstanding dues from the power sector have already crossed Rs 18,000 crore, an official said on Tuesday.
The dues are likely to be more than Rs 20,000 crore by end of June, he said.
The outstanding dues started to climb from the last fiscal as the power sector has been reeling under crisis and the Maharatna PSU continued to push coal after the government asked the miner to ramp up its production and dispatch, he said.
“Low realisation is a short-term issue. Coal India does not have any plan for long term borrowing through instruments like issuing of bonds,” a top company official told PTI on condition of anonymity.
