Coal minister Sriprakash Jaiswal today ruled out scrapping e-auction of coal and said any step to curb it would only increase pithead stock.
"e-auction of coal started after the Supreme Court allowed it. There is already a huge stock of coal lying at pitheads which is creating a problem.
"If e-auction is stopped then another 10% stock will accumulate," Jaiswal said last night on the sidelines of celebrations of CIL's Maharatna status.
About 70 million tonne of stock is lying at the pitheads due to shortage of rakes.
E-auction is a major revenue earner as on this platform coal is sold 80-90% higher than the administered prices.
"The number of rakes have improved recently, but it is not enough to clear stocks," Jaiswal said.
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CIL officials said if they are able to acquire rakes then the pithead stock problem will ease.
Jaiswal said he had given a proposal to the Railways to finance the cost of rakes that should be used only to transport coal.
"We have proposed to finance rail rakes. The Coal sector cannot participate in the own-your wagon scheme, but Railways has assured to look into the possibility of amending the rule," Jaiswal said.