August 30, 2008

India to set up a coal regulator - Report

UPI recently reported that India is considering setting up a coal regulator to provide a level playing field to all players.

The report cited Mr TK Nair principal secretary to Dr Manmohan Singh having directed the coal ministry as "Bring forth a proposal to set up a regulator set year and institution wise exploration targets so that adequate blocks are available for development and move toward a modern pricing regime.”

Mr Nair said that “With private entry in captive coal mining, a regulator is needed to ensure a level field and see to it that new players do not cut corners and take care of conservation, deploy suitable technology and offer the same welfare facilities that miners get under government run operations.” He added that a regulator is also expected to ensure a fair evaluation of coal blocks being allotted to private companies for captive mining.