There are no plans to set up independent pricing authority for coal, Parliament was informed today.
"The Government has no plans to set up an Independent pricing authority for coal," Coal and Power Minister Piyush Goyal said in a written reply to the Rajya Sabha.
The pricing of coal has been fully deregulated by the government, the minister said, adding that coal firms themselves fix prices of the fossil fuel and notify them periodically.
He said the pricing of coal has been fully deregulated by "vide the Colliery Control Order, 2000 dated 1st January, 2000 in supersession of the Colliery Control Order, 1945".
"Under the said order, the coal companies themselves fix the coal price based on input costs, inflation index, market trends etc. And notify the same periodically," Goyal added.
State-owned Coal India Ltd, which accounts for 80 per cent of the domestic production, determines the prices of the fuel.
