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Generators get help with working capital
Coal India Ltd (CIL) has allowed the facility of ‘Usance Letter of Credit’ to power sector consumers for payment of coal instead of cash advance for the Fuel Supply Agreements.
This will help significantly in improving the working capital cycle of the generators, said CIL on 9 Apr 2020.
CIL has also introduced the same mechanism for customers of Non-Power Sectors in the month of April 2020, giving a big boost to the liquidity in the markets.
It will also provide the much anticipated relief to the consumers of coal, said CIL. fiinews.com
