CII calls for core sector regulator
Industry chamber CII has sought the establishment of an independent regulator for promoting private sector investments in the infrastructure sector.
By Agencies |
NEW DELHI: Industry chamber CII has sought the establishment of an independent regulator for promoting private sector investments in the infrastructure sector.
The chamber is planning to release a report on regulations that calls for establishing an overarching regulatory framework for infrastructure and recommend principles that would enhance and ensure effectiveness of regulatory mechanism for infrastructure.
“Our expectation is that existing infrastructure regulatory bodies, and new ones being contemplated by the Central and state governments, will seek to comply with these recommendations,” National Council for Infrastructure chairman Vinayak Chatterjee said.
The recommendations, a part of the joint study titled ‘recommended framework to improve regulatory effectiveness in infrastructure sectors’, are in line with planning commission’s own white paper on infrastructure regulation in India.
“For this (recommendations) to happen in a uniform way, we have recommended that the principles for regulatory effectiveness be enshrined in a national-level infrastructure regulatory framework Act,” Mr Chatterjee added.
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The CII report said the regulator should be autonomous so as to effectively perform regulation with respect to entry, price and performance. CII has also said setting up a multi-disciplinary body in the lines of a National Infrastructure Appellate Tribunal (NIAT) would be helpful to adjudicate upon appeals arising from sector regulators in a timely manner and also to oversee the working of regulators. It, however, said not all infrastructure sectors should have an economic regulator as market maturity and sector needs to have a bearing on the way development takes place in India.
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