The meeting of the Group of Ministers (GoM), headed by Finance Minister, P. Chidambaram, on giving a final shape to the Coal Regulator Bill remained inconclusive. The GoM is likely to meet again soon to sort out the differences among various Ministries.
Coal Minister Sriprakash Jaiswal said the GoM discussed the Coal Regulator Bill but could not arrive at any conclusion. “There will be one more meeting, dates for which will be decided by the GoM head,” he told reporters here.
Minister of State for Power (Independent Charge) Jyotiraditya Scindia, who is also a member of the GoM, said some more clauses may get inserted in the proposed Bill and thereafter a final draft of the Bill will be presented to the GoM for approval. “ In the next week, or ten days, the Planning Commission, Power and Coal Ministries will meet and prepare the final draft to be presented to the GoM,” he added.
In January, the government had announced it would appoint a coal regulator to monitor the fuel pricing, sampling and other practices in the sector. The setting up of an independent regulator is considered important for fixing guidelines for price revision, improving the competitiveness in e-auctions, setting trading margins and increasing transparency in the allocation of reserves.
The Cabinet had earlier discussed the proposal for a coal sector regulator and had asked the GoM to make recommendations on its powers and functions.
