"Commenting on the supply of coal, the Vice-President assured CTI that the government has already ordered the investor to improve coal production so as to meet market demand.
She said starting next week, the investor will double production. Moreover, the Vice-President said the government invites more investors in the area so that there could be reliable and enough production of coal.
"Our aim is to ensure there is enough coal for our industries, we invite companies to invest in the area so that there could be sufficient production," she said. Earlier, CTI Vice- Chairman, Mr Shabbir Zavery said investors face various challenges including changes of policies, which affect production and businesses in general.
"We are asking the government to support our efforts by reducing the number of regulatory authorities so that we can realise profit in our businesses," he said."
Why would people want to invest in more coal mines?? The government strips licences and gives land to whoever has the most money or influence.
IEC can't get a PPA out of anyone and according to our company, one of our major customers couldn't provide enough trucks to supply their own business with coal!
IEC Price at posting:
0.9¢ Sentiment: None Disclosure: Held