GoM recommendations on coal regulator soon: Jaiswal

New Delhi: The government today said the recommendations of Group of Ministers (GoM) on setting up independent regulatory authority for the coal sector are expected shortly.

“The recommendations of the GoM (on coal regulator) are expected shortly,” Coal Minister Sriprakash Jaiswal said in a reply to Rajya Sabha.[caption id=“attachment_756263” align=“alignleft” width=“380”] Union Coal Minister Sriprakash Jaiswal. Image courtesy PIB[/caption]

The minister said the GoM has held three meetings so far. The reply comes a day ahead of the meeting of the GoM.

A proposal for setting up an independent regulatory authority for coal sector was submitted for consideration of the cabinet, Jaiswal said. It was considered by the cabinet last year and referred to the GoM that is headed by Finance Minister P Chidambaram.

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The last meeting of GoM remained inconclusive as there were differing opinions among members on certain issues, including the pricing of coal.

“We discussed the Coal Regulator Bill, but we are yet to arrive at any result,” Jaiswal had told reporters after the GoM meeting last month.

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

The GoM also includes Environment Minister Jayanthi Natarajan and Planning Commission Deputy Chairman Montek Singh Ahluwalia.

PTI