Business Daily from THE HINDU group of publications
Saturday, Jul 07, 2007
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Business Daily from THE HINDU group of publications Saturday, Jul 07, 2007 ePaper |
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Industry & Economy
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Coal New coal distribution policy may be finalised soon
Phalguna Jandhyala New Delhi, July 6 The Coal Ministry is likely to finalise the new coal distribution policy in the next couple of weeks. The policy is likely to propose more transparency in the sale of coal and might reduce the number of industries in the core sector. “The file would be sent for the Prime Minister’s approval in the next couple of days and we expect the policy to be cleared in the next 10-15 days,” a senior Coal Ministry official told Business Line. The Government proposes to put in place a new system for ensuring fuel linkages to the power sector. A draft of this policy, under the Chairmanship of the Coal Secretary, has recommended that the existing core and non-core sectors be reclassified into ‘regulated’ and ‘other’ sectors for the purpose of prioritising coal distribution. An inter-Ministerial committee was set up by the Coal Ministry following the Supreme Court ban on e-auction of coal by Coal India in December 2006. Power sector
Only the power sector, which consumes around 80 per cent of the coal produced in the country, is likely to continue in the core sector. Under the existing policy, sectors such as steel, cement, fertiliser, aluminium and paper, along with power, constituted the core sector. “The power sector operates in a regulated environment where the cost at which it would sell power is determined by the Electricity Regulatory Commission and companies in the sector are not allowed to charge market-determined prices from the consumers,” the official said.
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