New Delhi, Feb 7 (PTI) The coal ministry will hold consultations with other ministries, including law and justice, before going ahead with its plan to launch India's first coal exchange, an official said on Friday.

Vismita Tej, Additional Secretary, Ministry of Coal, said that the ministry will seek inputs from other departments for setting up the coal exchange

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"It (the proposal) is progressing very well. Very soon you will be hearing something about it. Some procedural part is pending. We will have to take inputs from the other ministries, including legal...and it should be through," Tej said at a press conference here.

She was answering questions relating to the government's plan of setting up the country's first coal exchange.

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However, she did not elaborate further.

Earlier, Union Minister for Coal and Mines G Kishan Reddy said India's first coal exchange would be set up soon.

The establishment 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 Coal Controller Organisation.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)