'Independent coal regulator to infuse transparency,efficiency'

Industry body PHD Chamber today said the Cabinet nod for setting up independent coal regulator would result in transparency and efficiency in the sector.
"The union Cabinet's nod for setting up an independent coal regulator in the coal sector is inspiring. The decision has come as a step to infuse transparency and efficiency in the coal sector as it will revive the corporate investments and refuel the economic growth," PHD Chamber President Sharad Jaipuria said in a statement.
The industry body also said the regulator would help in streamlining the authoritarian framework of the sector.
The government said earlier in the day that a regulator for the coal sector would be set up through an executive order.

"The Cabinet Committee on Economic Affairs has given nod to the proposal to set up coal regulator through an executive order," a senior Minister said after the meeting here.
The regulator will be empowered to specify the principles and methodology for determination of price of raw coal and washed coal and any other by-product generated during washing.
The regulator will also regulate methods for testing for declaration of grades or quality of coal, specify procedure for automatic coal sampling and adjudicate upon disputes between the parties besides monitoring closure of mines and approval of mining plans, among other things.