The draft rules for the country’s proposed coal exchange will be finalised by the end of November after examining feedback received from the public, Coal Secretary Vikram Dev Dutt said on Thursday.
"The draft coal exchange rules are in the public domain. Comments have come, and we are examining those. The rules will be finalised by the end of November," Dutt told reporters on the sidelines of the Asia Mining Congress here.
The proposed coal exchange aims to bring transparency, efficiency and a market-driven mechanism to domestic coal trading.
According to the draft rules, the coal controller organisation (CCO) will be appointed to register and regulate the coal exchanges to be established in the country.
The Ministry of Coal had invited comments from stakeholders by mid-October.
On the disinvestment front, Dutt said the process for Bharat Coking Coal Ltd (BCCL) and Central Mine Planning and Design Institute Ltd (CMPDIL) has made significant progress.
"We have moved ahead in this regard for both BCCL and CMPDIL. The DRHPs were cleared by SEBI in September. Roadshows for BCCL are at an advanced stage, and we are reaching out to investors. There is healthy interest, and the roadshow will conclude by this month," he said at the 11th edition of the MGMI International Mining Exhibition.
The secretary said India's coal production continues to be strong, with the country crossing the one billion-tonne mark in both production and supply for the first time last fiscal.
"The first-half demand this year has been muted because domestic power generation is down by more than four per cent. As a result, we have record stock both at the pithead and power plants. We expect production to be close to the target for both Coal India and commercial miners," Dutt said.
