Business
Coal shortage threatens to close several industrial units
INTUC National General Secretary Sanjay Kumar Singh said captive power plants in various industries, including steel and aluminum, are facing coal shortages, and if the situation does not improve soon, it may lead to the closure of multiple industrial units, causing Mass unemployment. Wednesday. “Captive power plants in various industries including steel and aluminium are facing coal shortages. Priority is given to independent power producers (IPPs) over captive power plants (CPPs),” said National Directorate General, National Union of Trade Unions Congress (INTUC), India Tell PTI.
Singh further said that “if our utilisation of coal is 100 per cent, then we are just getting 20 percent. If this situation continues, then the small companies will reach a level where they will have to close down.” Singh said that the situation has worsened in the past two months and made a plea to the government to give priority for supply of coal to the industries operating in the coal-bearing states, including Chhattisgarh, and then supply coal outside the states.
“We have also written to the Prime Minister to say that people may be forced to continue protesting if demand for coal from industries operating in coal-producing areas is not met, but is instead supplied to industries outside the state.” “So first meet the coal demand for industries operating in coal-containing states, and then ship the dry fuel out of state,” he said. He explained that it is totally unfair that industries operating in states like Chhattisgarh source coal from outside to meet their needs, while the coal produced in Chhattisgarh is shipped to Uttar Pradesh.
Also, on the one hand the government is talking about sending coal to countries like Nepal and Bhutan, on the other hand the domestic industry is not getting the required amount of coal, he said. “It’s not that coal production has decreased. Their (government) policies are wrong … If this continues, people could lose their jobs in the next few days, which could create unrest in every state,” he said. Meanwhile, the government said on Monday that the country’s reliance on imports to meet thermal coal demand has decreased significantly, stressing that Coal India, Singareni Collieries Company Ltd and captive mines will meet this demand in the next financial year.
The Ministry of Electric Power estimates domestic coal demand for coal power generation to be 727 million tonnes in 2022-23. On Monday, Coal Minister Pralhad Joshi said the country’s thermal power plants are not short of coal. Even in 2021, coal stocks at thermal power plants have fallen due to evacuation concerns, but the country still has enough coal supplies.
Complete News Source : DNA
india
Oppn seeks probe into Adani charges in US: ‘Obvious protection of PM Modi’
Following US SEC charges of bribery against Gautam Adani, opposition parties criticise PM Narendra Modi and call for a JPC investigation.
As billionaire Gautam Adani faces charges in the US for alleged bribery and fraud, the Opposition on Thursday intensified its attack on the Centre over its alleged links with the Adani Group.
Gautam Adani has been charged in the US with allegedly paying $250 million in bribes to Indian officials between 2020 and 2024 to secure favourable terms for solar energy contracts. The scheme, prosecutors said, could have earned Adani’s group over $25 billion in profits.
Congress demands JPC probe
Reacting to the charges, the Congress called for a Joint Parliamentary Committee (JPC) probe into alleged scams involving Adani’s conglomerate. The party also demanded the appointment of a “new and credible” Sebi chief to investigate Adani’s financial dealings and compliance with securities laws.
ALSO READ- At 65.2%, Maharashtra records highest voter turnout since 1995 assembly election
Congress leader Jairam Ramesh said the US Securities and Exchange Commission’s (SEC) actions highlight the failure of Indian institutions to investigate the group. “The indictment vindicates Congress’s demand since January 2023 for a JPC into the Modani scams,” Ramesh wrote on X.
He accused Prime Minister Narendra Modi of shielding Adani and claimed Congress’s “Hum Adani Ke Hain Kaun” (HAHK) series had exposed the businessman’s alleged fraud and his ties with the PM.
The fact that it has taken a foreign jurisdiction to properly investigate Adani only shows how Indian institutions have been captured by the BJP, and how decades of institutional development have been undone by greedy and power hungry leaders, the Congress leader said in another post.
“All of this is consistent with a long record of fraud and criminality carried out with impunity with the obvious protection of the Prime Minister,” Ramesh charged.
Other Oppn leaders join attack
Other opposition leaders joined the attack. Trinamool Congress MP Saket Gokhale questioned the BJP’s involvement in Adani’s dealings and demanded an independent judicial probe.
Aam Aadmi Party leader Sanjay Singh accused PM Modi of allowing Adani to tarnish India’s global reputation.
ALSO READ- Adani Group shares plunge after US SEC charges, Adani Green down 16%
Adani stocks latest updates
The allegations rattled markets, with Adani Group stocks plunging. Adani Enterprises fell 20 per cent in pre-open trade, while shares of Adani Ports, Adani Green, Adani Power, and others dropped between 7 per cent and 18 per cent.
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