GoM meet on coal regulator inconclusive

The Group of Ministers headed by Finance Minister P. Chidambaram that met on Wednesday to discuss the Draft Coal Regulator Bill did not arrive at any conclusion. “No, we have not arrived at any result,” said Coal Minister Sriprakash Jaiswal after the meeting. The panel would meet again to discuss the Bill, Jaiswal said. The move to set up a regulatory authority for the coal sector is in limbo for close to a year now. After Union Cabinet referred the matter to the GoM, it met for first time in July 25, 2012. Among various concerns over the powers to be given to the regulator, the most crucial one is whether it will decide pricing of coal or not. At the same time, the Coal Ministry wants to keep with itself the power to grant permission for opening a coal mine or cancelling it. Also, the Regulator would not overlook the laws administered by the Ministry of Labour, Mines, and Environment and Forests.