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A reform roadmap for coal regulator

31 Mar 2014

In the thoroughly unreformed coal sector — which increasingly fails to meet the fuel demand of our thermal power plants —the government has set up a wholly redundant post of price regulator, who would not really decide on prices. The coal regulator would merely advise the Centre on the principles and methodologies to be followed for working out prices, and the public sector monopoly Coal IndiaBSE 0.38 % (CIL) will continue to fix them, subject to the coal ministry's okay. 
 
This is clearly far too little policy action, much too late in the day. Instead, what's required is purposeful coal reform and repeal of the Coal Mines (Nationalisation) Act, 1973, so that multiple coal producers can compete for custom and, thus, meet rising demand. And in overhauling market design in the vexed sector, the subsidiaries of CILBSE 0.38 % need to be hived off into independent entities. It is precisely because of the stodgy monopoly regime and attendant inefficiencies in mining and evacuation that we are now having to import scandalously large amounts of steam coal, despite our large proven reserves in situ. 
 
However, the coal regulator has also been rightly tasked with "promoting competition, efficiency and economy in the activities of the coal industry", and a comprehensive roadmap for reform for the next government needs to be put in place. The regulator is also to oversee promotion of investment, development of mining technologies, beneficiation methods and conservation of coal resources. Fact is, productivity in Indian coal mines is way below the benchmarks abroad, and we need speedy diffusion of global best practices. Also, there is little or no beneficiation of coal at pitheads, which implies that vast quantities of non-combustible rock, impurities and ash are hauled over long distances at huge national cost. 
 
 
Source: ET