CIL wage hike will not result in coal price hike: Government

The upward revision in wages of Coal India Ltd (CIL) workers will not have any bearing on coal prices and there will be no hike in prices of the dry fuel. The development comes close on the heels of the PSU last week agreeing in-principle to increase the wages of its workers by 25 per cent, translating into an additional annual outgo of Rs 4,000 crore for the company. CIL is expected to achieve its revised target of 440 million tonnes of coal production for the 2011-12 financial year.