Sriprakash Jaiswal announces formation of Coal Regulatory Body

New Delhi, June 28 (ANI): The government has agreed in principle to go ahead with the formation of a Coal Regulatory Body after the country was marred by series of scams in allocation of coal blocks.

"The much awaited Coal Regulatory Body proposal was accepted yesterday by the cabinet; you already know the details and function of this authority. According to me, the main function is transparency," said Union Coal Minister Sriprakash Jaiswal.

The Union Cabinet earlier on Thursday gave its approval to the proposal for setting up of an independent regulatory authority for the coal sector.

Further, commenting on the contribution to the Uttarakhand Chief Minister's Relief Fund, Jaiswal appreciated the gesture of the chief of Coal India, S. Narsing Rao, for this humanitarian cause.

"I am happy that Coal India has decided to stand out and offer the biggest help for victims of floods in the state of Uttarakhand. For this, I would like to congratulate, S Narsing Rao (Chairman and Managing Director of Coal India Limited) who decided to donate 50 crores for the relief fund," he said.

Coal India Limited (CIL), the State owned Coal Mining Maharatna has contributed Rs. 50 crores to the Chief Minister's Relief Fund, Uttarakhand to supplement the rescue, relief, rehabilitation of the people and re-construction and areas devastated by the recent calamity in Uttarakhand. CIL has contributed this money from its Corporate Social Responsibility (CSR) budget, which provides for rehabilitation and re-construction of areas affected by any natural calamity.

S. Narsing Rao, Chairman, CIL, handed over the cheque to the Union Minister of Coal, in the presence of S.K. Srivastava, Secretary, Ministry of Coal, here today for forwarding it to the Chief Minister's Relief Fund, Uttarakhand.

In addition to this, Western Coalfields Ltd Steering Committee comprising of the representatives of its management and five central trade unions including Coal Mines Officers' Association have decided to contribute one day's basic salary of all the employees to Prime Minister's Relief Fund for the rehabilitation and relief works in Uttarakhand.

It is expected that contributions of one day's basic salary of 54,737 employees on the roll of WCL would be more than Rs. 5 crores. (ANI)

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