India to Urge State Coal Miner to Cap Prices, Absorb Wage Costs
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Coal India Ltd., the world’s biggest producer of the fuel, will be urged to maintain prices even if the company agrees to a wage increase next week, Coal Minister Sriprakash Jaiswal said.
The government will ask Coal India to absorb costs as the company prepares to meet unions on Jan. 27 and 28 to discuss a 25 percent increase in salaries, Jaiswal said yesterday in New Delhi. Coal India, which decided to grade coal on the basis of its gross calorific value starting Jan. 1, will be asked to keep prices unchanged, he said.