Facilitate formulation of a realistic commercial coal mining policy: Coal Secretary to stakeholders
Updated: Jun 23, 2015 04:46:06pm
New Delhi, June 23 (KNN) There is a need to formulate a realistic policy for the success of commercial coal mining in India, stated Anil Swarup, Union Coal Secretary, here today at an event.
He said this while addressing at a workshop on ‘Commercial Mining of Coal: The Enablers’ organized jointly by the Ministry of Coal and FICCI.
The Secretary said stakeholders should specifically indicate the amendments that they would recommend in the existing bidding process to conform to commercial coal mining.
Swarup said it would be appropriate if the industry could prepare a comprehensive document underlining the suggested regulations for bidding. He added that stakeholders while suggesting rules must realize that these would form the fundamentals for commercial coal mining. Hence, due diligence must be observed to make the law transparent and devoid of any discrepancy.
A K Dubey, Additional Secretary, Ministry of Coal, said that the new CMN Act provides a legal regime to regulate the business. The content of business may change with time, but the regime would give a secure environment to private sector. Also, a financing regime should run alongside the legal framework instead of being subservient. He added that this would ensure reasonable return to the private sector to sustain itself in the long run.
In his theme presentation on ‘Policy and Legal Framework Redefined’, Vivek Bharadwaj, Joint Secretary, Ministry of Coal, highlighted that the amendments in the Act were transformative and presented a regulatory framework which was liberal and reform oriented. However, he added that the Act with it brought two implications – legal and administrative. The implications need to be deliberated upon with stakeholders to establish a transparent policy. (KNN Bureau)
He said this while addressing at a workshop on ‘Commercial Mining of Coal: The Enablers’ organized jointly by the Ministry of Coal and FICCI.
The Secretary said stakeholders should specifically indicate the amendments that they would recommend in the existing bidding process to conform to commercial coal mining.
Swarup said it would be appropriate if the industry could prepare a comprehensive document underlining the suggested regulations for bidding. He added that stakeholders while suggesting rules must realize that these would form the fundamentals for commercial coal mining. Hence, due diligence must be observed to make the law transparent and devoid of any discrepancy.
A K Dubey, Additional Secretary, Ministry of Coal, said that the new CMN Act provides a legal regime to regulate the business. The content of business may change with time, but the regime would give a secure environment to private sector. Also, a financing regime should run alongside the legal framework instead of being subservient. He added that this would ensure reasonable return to the private sector to sustain itself in the long run.
In his theme presentation on ‘Policy and Legal Framework Redefined’, Vivek Bharadwaj, Joint Secretary, Ministry of Coal, highlighted that the amendments in the Act were transformative and presented a regulatory framework which was liberal and reform oriented. However, he added that the Act with it brought two implications – legal and administrative. The implications need to be deliberated upon with stakeholders to establish a transparent policy. (KNN Bureau)
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