P M Prasad, who currently serves as the Chairman-cum-Managing Director of Central Coalfields Limited (CCL), has been appointed as the Chairman-cum-Managing Director of Coal India Limited (CIL), a Schedule ‘A’ Central Public Sector Enterprise (CPSE). Prior to his new role, Prasad successfully led CCL, a subsidiary of Coal India, located in Jharkhand, to achieve its production targets in the fiscal year 2022-23.
With over 30 years of experience in the coal mining sector, Prasad holds a post-graduate degree in mining engineering from the Indian School of Mines, IIT Dhanbad. He takes over the position from Pramod Agrawal, who retired upon reaching the age of superannuation on June 30th. Prasad’s career in Coal India began in 1984 as a management trainee at Western Coalfields Limited, and he has held various roles across different subsidiaries of Coal India. He also spent three years as the Executive Director (coal mining) at NTPC (National Thermal Power Corporation).
With dawn of the Indian independence a greater need for coal production was felt in the First Five Year Plan. In 1951 the Working Party for the coal Industry was set up which included representatives of coal industry, labour unions and government which suggested the amalgamation of small and fragmented producing units. Thus the idea for a nationalized unified coal sector was born. Integrated overall planning in coal mining is a post-independence phenomenon. National Coal Development Corporation was formed with 11 collieries with the task of exploring new coalfields and expediting development of new coal mines.
Formation of Coal India Limited
With the Government’s national energy policy the near total national control of coal mines in India took place in two stages in 1970s. The Coking Coal Mines (Emergency Provisions) Act 1971 was promulgated by Government on 16 October 1971 under which except the captive mines of IISCO, TISCO, and DVC, the Government of India took over the management of all 226 coking coal mines and nationalised them on 1 May, 1972. Bharat Coking Coal Limited was thus born. Further by promulgation of Coal Mines (Taking over of Management) Ordinance 1973 on 31 January 1973 the Central Government took over the management of all 711 non-coking coal mines. In the next phase of nationalization these mines were nationalized with effect from 1 May 1973 and a public sector company named Coal Mines Authority Limited (CMAL) was formed to manage these non coking mines.
A formal holding company in the form of Coal India Limited was formed in November 1975 to manage both the companies.