The Group of Ministers (GoM) on coal is discussing the proposal to set up a coal regulator and the matter would be finalised in the next meeting of the GoM, Coal Minister Sriprakash Jaiswal, who is part of the group said.
Jaiswal said this after attending the meeting of the GoM recently. Power Ministry and Planning Commission will be working on the draft of the coal regulator and will be meeting shortly to close on that, Power Minister Jyotiraditya Scindia who also attended the meeting, said.
It is learnt that the meeting discussed issues such as the pricing of coal and bringing on the selection board a representative from the power ministry.
Scindia further hinted that the next GoM meeting would be the final meeting. The proposed coal regulator is intended to monitor the fuel pricing, sampling and other practices in the sector.
Besides, this the independent regulator is expected to improve the competitiveness in e-auctions, fix guidelines for price revision, set trading margins and increase transparency in the allocation of reserves.
Earlier, the Cabinet had discussed the proposal for a coal sector regulator and asked the GoM on coal regulator to make recommendations on its powers and functions.
The GoM comprises of Finance Minister, Coal Minister, Environment Minister Jayanthi Natarajan, Planning Commission Deputy Chairman Montek Singh Ahluwalia, Power Minister among others.