Government to issue executive order to set-up coal regulator

Government will issue an executive order for setting up a coal regulator aimed at regulating and preserving the dry fuel. The Coal Regulatory Authority Bill, 2013, needs Parliamentary approval and is to be introduced in the next session, Chidambaram told reporters.  “Pending the passage of the bill, we propose to set up the authority by an executive order. There are precedents for that. The PFRDA was set up by an executive order. It is still under an executive order. SEBI was first set up by an executive order then it became a statutory body,” he said. The Cabinet last evening approved the setting up of the regulator for coal sector, Chidambaram said, adding the Coal Regulatory Authority Bill 2013 would be introduced in the forthcoming session of Parliament.