New Delhi: Minister for Coal G Kishan Reddy said on Monday that India will get its first coal exchange soon. Speaking to reporters on the sidelines of a stakeholder consultation on Mine Developers-cum-Operators (MDO) regime, Reddy said that the plan for setting up a coal exchange was discussed at a recent meeting. A draft note for the Cabinet for setting up a Coal Exchange has already been circulated for Inter-Ministerial consultations, PSU Watch earlier reported. A final note for the Cabinet Committee on Economic Affairs (CCEA) has already been approved by Reddy.
A coal exchange is likely to facilitate more sellers and buyers to trade coal as a commodity, which will pave the way for price discovery led by market forces. The setting up of a coal trading exchange in the country would open up the coal market through an online trading platform, along with clearing and settlement mechanism and provide easy availability of dry fuel in the market.
The Coal Exchange will work under the supervision of the Coal Controller Organisation.
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