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Coal India asks for a coal regulator

A high-powered panel, in 2018, had recommended to develop a Coal Index for determining the value of blocks and a revenue-sharing model with the states, the official of Coal India said.

ET Bureau|
Updated: Sep 17, 2019, 07.50 PM IST
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KOLKATA: India needs a coal regulator in the line of TRAI or CEA especially since the sector is being opened up to foreign investment and commercial mining is being allowed, M K Singh, technical secretary to Coal India chairman, said at mjunction organised 13th Coal Conference in Kolkata on Tuesday.

"One thing we are missing is the National coal regulator for industry of such a size and such diversity. This is the time we should plan for a very strong coal regulator combining nitty-grities of all stakeholders," Singh said.

The world’s largest coal producer is closely observing interests from overseas and private sector following government announcement of allowing 100% foreign direct investment in Coal he said.

In wake of opening up of coal sector for foreign direct investment and allowing commercial mining the coal ministry is framing a National Coal Index Singh said.

A high-powered panel in 2018 had recommended developing a Coal Index for determining the value of blocks and a revenue-sharing model with the states. Currently, the valuation is on the basis of the notified price of Coal India Ltd.

“CIL’s growth plan for the future is in synergy with the ambitious plan of the government for 24X7 power supply to all homes in the country for which a roadmap to achieve 880 million tonnes of coal production by 2024-25 has been finalised,” said Singh.

Giving details of Coal India projects waiting for central approval that are crucial for ramping up its production, Singh said, "Coal India has submitted 85 proposals with annual production capacity of 493 million tonnes for environmental clearances. Some 89 proposals involving 26,000 hectares of forest land diversion has also been submitted . Expeditious clearances of proposals and consent of communities are important."
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