The Coal Regulatory Authority is proposed to be set up to regulate and conserve resources in the coal sector; protect the interests of consumers and producers of coal and for matters connected therewith or incidental thereto. The proposed Regulator is expected to create a more level playing field for all the players in the coal sector and to facilitate faster resolution of issues relating to economic pricing of coal, bench marking of standards of performance, etc.
Mr Sriprakash Jaiswal minister of state in the ministry of coal and statistics and program implementations informed the Lok Sabha that the comments of concerned Ministries/Departments in this regard have been received. However, it was noticed that some major changes/suggestions have been made by various Ministries/Departments. At present, suitable incorporation of these changes/suggestions is being examined in consultation with the Ministry of Law. Once finalized the draft Bill would be submitted for the approval of the competent authority. However, it may not be possible to indicate the exact time frame by which the proposed Authority is likely to be set up.
Mr Jaiswal said that as stated above, the likely benefits of the Coal Regulatory Authority would be more optimal development of coal resources of the country, which would ensure that the Indian coal companies raise their level of competence to be at par with international competitors. As it would also deal with the issues like mining authorization, production and supply of coal, specify & determine the grades/quality of coal, price of coal, and adjudicate disputes amongst producers and consumers, it is expected to protect the interests of consumers and producers of coal and would effectively deal with the matters connected therewith or incidental thereto.
The Minister said that the proposed Coal Regulatory Authority would facilitate more standardized operational norms, establishment of bench marks in safety standards and performance, productivity etc through adoption of best mining practices, which would entail effective resolution of problems confronted by all the stakeholders including coal producing States and coal miners.