Cabinet approves regulator for coal sector
New Delhi: The coal sector in India will now have a regulator that will prescribe principles for price determination of the fuel, adjudicate on disputes between parties, and enforce closure of mines.
The coal ministry in May 2012 had moved the Cabinet Committee on Economic Affairs (CCEA) seeking approval of the Coal Regulatory Authority Bill, 2012.
The regulatory authority will also specify procedure for sampling and washing of coal.
"The Authority (coal regulator) shall specify methods of testing for declaration of grades or quality of coal, monitor and enforce closure of mines, specify principles and methodologies for price determination of raw coal and washed coal and any other by-produce generated during the process of coal washing, adjudicate upon disputes between parties and discharge other functions as the Central Government may entrust to it," an official statement said after a CCEA meeting here Thursday.
The coal regulator "shall help in the regulation and conservation of coal resources and will benefit all stakeholders; that is coal companies, coal consuming industries such as power, steel, cement and coal bearing States and people, directly or indirectly associated with the coal industry," said the statement.
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