Coal India clears two years’ pending rakes, builds up stock at power plants

Mining behemoth Coal India (CIL) has liquidated over 78% of non-lapsable arrear rakes to nonpower sector after it had build up sufficient coal stock for the power plants. Non-lapsable arrear rakes for the non-power sector consumers were pending for FY18 and FY19.

CIL began by clearing 5,143 arrear rakes on April 1, 2019 and brought down the number to 1,116, clearing 4,027 rakes. It is hopeful that the rest will be cleared by the end of the fiscal. A CIL official told Fe two factors mainly contributed to clearing the pending railway rakes.