"We plan to sell coal through open sale scheme (OSS) and localised sale scheme (LSS). We may even think of retail sales of coal to reduce stocks," ray told PTI in an interview. Besides, he said the coal companies are opening dumps in different parts of the country adding that 15 dumps would be opened to begin with. These are part of short term measures being contemplated by the ministry to overcome huge stock pile-ups in coal companies, which is likely to affect their financial performance in the current fiscal year.

In the first quarter of 1998-99, the lifting of coal is down by one million tonnes compared to last year. Ray said the slowdown in demand was due to slippages in power sector as many independent power projects, which were supposed to come up had not taken off. As on March 31,1998, the stock of coal at pitheads had risen to an all time high of 25 million tonnes. Ray said the ministry has sent notices to nine independent power producers, of the total 27 for which the government has agreed to sign fuel supply agreement, due to poor follow up action by these companies to set up the power plants. "We have sought their reply by September end," he said.

The IPPs to which notices have been issued include 1,000 MW Sagardighi Thermal plant by Development Consultants of UK, Raipur Alloys 420 MW Korba east plant, 1000 MW Anapara C power project in Uttar Pradesh by Hyundai. The notices have also been sent to IB valley-III and IV units of 500 MW each promoted by AES Transpower of US.