A nine-member ministerial panel headed by Finance Minister P Chidambaram will meet on Monday to finalise the draft of a Bill to set up a coal regulator, said a coal ministry official. This is the second meeting of the panel, which had met for the first time in July 2012.
The meeting comes on the backdrop of the ministry’s proposal that pricing power of the commodity should remain with coal producing companies. The ministry wants the proposed regulator to decide the method for fixing prices to check abuse of monopoly by any producer. Currently, state-owned Coal India Ltd (CIL) accounts for 82 per cent of the domestic 530-million-tonne yearly coal production.