The Hindu : National : Regulatory body for coal sector coming

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Regulatory body for coal sector coming

Ananya Dutta

KOLKATA: The Centre was planning to form an independent regulatory body which would look into allocation of coal blocks, approval of mines and competitive price regulation, Sriprakash Jaiswal, Union Minster of State for Coal said here on Sunday.

Emphasis was being given to the deregulation and opening up of the coal sector to private players with the help of State owned organisations, Mr. Jaiswal said at a seminar organised by the Confederation of Indian Industry (CII).

Mr. Jaiswal, who later attended the 34th foundation day celebrations of the Coal India Ltd (CIL), announced that a fixed minimum wage would be introduced to all contractual employees of the Coal sector. The wage would be determined by the Chief Labour Commissioner, he added.

Lauds achievements

Congratulating the CIL for its recent achievements, he said, “preparations have begun from this occasion to convert the company from a Navratna enterprise into a Maharatna.”

Granting of Maharatna status to a Public Sector Enterprise is a move by the Centre to grant greater operational and financial autonomy to high performing companies.

Emphasising the importance of coal in the energy security for the country, Mr. Jaiswal said: “India can never achieve a goal of 10 per cent growth without the support of the coal-sector, which supplies 50 per cent of our energy needs.”

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