India may get regulator to oversee coal pricing soon
ET reported that India's government is set to decontrol pricing of coal including coal from captive mines.
As per report Dr Manmohan Singh prime minister of India has approved the draft of the Coal Regulatory
Authority Bill that entrusts responsibility of coal pricing to the regulator. The bill is expected to
be introduced in the coming session of Parliament.
The report cited a coal ministry official as saying that "The Bill holds the regulator responsible for
determining the price of coal, including coal from captive mines. The draft, approved by the prime
minister as minister in charge of coal, will be with the Cabinet soon for its approval. Thereafter,
it would be introduced in Parliament."
The coal regulator would be empowered to determine the prices of coal and lignite as per guidelines
issued from time to time by the government. The proposed regulatory authority will put in place a
reasonable and transparent coal pricing mechanism and promote competition in the sector. It will also
determine transfer pricing in respect of captive coal and lignite mines.
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