After a marathon board meeting , Coal India Ltd (CIL) has made some progress on the Fuel Supply Agreement (FSA) - an issue that has been evading a solution for nearly five months.

“The document is still not in a signable form but has reached its penultimate stage,” CIL Chairman S Narsing Rao told The Hindu.

He said that while the board was not agreeable on the price pool issue, it agreed that the imports, necessary to meet the gap between the 65 per cent (of the annual contracted quantity for power producers) supplies that can be mustered by CIL and the 80 per cent trigger level (for attracting penalties) would be done on a cost- plus basis.

The force majeure clauses would also be amended to make it more acceptable to the consumers. The board has asked the management to evolve a model on price pooling.

A final round of meetings was proposed to be held on September 18.