Coal news and updates

Govt to examine prospects of coal regulator: Piyush Goyal

he National Democratic Alliance (NDA) government is examining the prospects of a post for a coal regulator, thereby opening the coal mining sector for states and public sector undertakings.

“There is an existing proposal for a coal regulator. We would look into it and see what can be done,” Piyush Goyal, minister of state for coal, power and renewable energy, said at the Ficci AGM.

Following the enabling Act on commercial mining and sale of coal in the new Coal Ordinance (Special Provisions), 2014, the NDA government expanded the horizon of coal mining to states for sale of coal in their territory to small- and medium-scale industries.

The Coal Regulatory Authority Bill was introduced in the Lok Sabha in 2013 and has been pending since then. The Bill provides for coal pricing and monitoring powers for the regulator but refrains from coal pricing regulations.

Emphasising that non-passage of legislative laws would not impede the efforts of the government, Goyal said: “The government has been scaling up efforts to achieve the ambitious targets set for 2022, with respect to housing for all, 24/7 power for all, houses with access to toilets, etc. I can assure that these targets are non-compromising.”

source: http://www.business-standard.com