GoM on draft coal regulator Bill may meet tomorrow

Govt had said it would soon appoint a coal regulator to monitor the fuel pricing, sampling and other practices

The inter-ministerial panel under the Chairmanship of Finance Minister P Chidambaram is likely to meet tomorrow to discuss the draft coal regulator Bill, which seeks setting up of a regulatory authority for the coal sector.

"The meeting of the Group of Ministers (GoM on draft coal regulator Bill) is likely tomorrow," a government official said.

In January, the Government had said that it would soon appoint a coal regulator to monitor the fuel pricing, sampling and other practices in the sector.

Coal Minister Sriprakash Jaiswal, who is part of the GoM, had earlier said that discussions are underway and the government may soon appoint a coal regulator.

Power Minister Jyotiraditya Scindia had earlier said: "Power Ministry and Planning Commission will be working on the draft of the coal regulator..."

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

According to sources, some of the issues such as the pricing of coal and bringing on the selection board a representative from the Power Ministry were raised during the last meeting of the inter-ministerial panel held in January.

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

The GoM on draft coal regulator Bill comprises Finance Minister, Coal Minister, Environment Minister Jayanthi Natarajan, Planning Commission Deputy Chairman Montek Singh Ahluwalia, and Power Minister Jyotiraditya Scindia, among others.