Govt selects P Chidambaram to head group of ministers on coal regulator

NEW DELHI: The government has named Home Minister P Chidambaram to head the group of ministers (GoM) to take a final call on a regulator for the coal sector.

The Union Cabinet had mentioned the draft coal regulatory authority bill to a GoM on May 10.

After the 2G debacle, the government suffered another embrassment when Comptroller and Auditor General (CAG) has estimated a Rs 10.67 lakh crore loss to the exchequer on account of allotment of coal blocks during 2004 to 2009 without auction to 100 private and public sector companies.

The regulatory authority is aimed to encourage investments in the coal mining sector, enable a fair and a transparent allotment process for future coal blocks.

The GoM, which has been notified, includes the coal minister SP Jaiswal, the law minister Salman Khurshid, Veerappa Moily, the corporate affairs minister and Montek Singh Ahluwalia, the deputy chairman of planning commission.