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GoM may take up draft Coal Regulator bill Tuesday

Last Updated: Tuesday, December 18, 2012 - 00:23

New Delhi: The Group of Minister (GoM), headed by Finance Minister P Chidambaram, is likely to meet tomorrow to deliberate on the draft Coal Regulator bill.

"The GoM may meet on December 18 to discuss the draft Coal Regulator Bill," a government official said.

The Cabinet had earlier referred the draft Bill for setting up a regulatory authority for the coal sector to a ministerial panel.

Coal Minister Sriprakash Jaiswal had said in November that GoM assigned to set up coal sector regulator may come up with its final recommendations soon after its meeting in December.

"I think in one or two meetings it (setting up of the coal regulator) would be decided," the minister had said.

In May, the Union Cabinet had discussed the proposal for a coal regulator and asked the GoM to make recommendations on its powers and functions.

The setting-up of an independent regulator for the coal sector is considered important for competitiveness of e- auctions, fixing guidelines for price revision in supply pacts, fixing trading margins and increasing transparency in the allocation of reserves.

A coal regulator was recommended in the country's Integrated Energy Policy as well as by the T L Shankar Committee on coal sector reforms.

A few states and stakeholders were also demanding setting -up of the coal regulator to induce greater transparency in coal block allocation and price fixing.

PTI

First Published: Monday, December 17, 2012 - 15:38
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