Regulator defends use of EIL to collect information

Vol 11, PW 15 (29 Nov 07) People & Policy

Most won’t be surprised to learn the regulator’s office is oblivious to growing concern at the way it is operating.

Contacted by this report, a source tells us each of the four â€کmembers’ of the regulatory board has only one full-time officer on special duty, insufficient to carry out its role efficiently. “All of them are over burdened with work,â€‌ we hear.

“We had to involve EIL because of the manpower shortage in our office.â€‌ Our source admits the regulator’s office might have overlooked industry concern about the confidentiality of the data or the information but adds: “EIL has been told to send us all the information the same day.

If it gets the information in soft copy, it should send it to us immediately. If the data is received in hard copy, it should be scanned and sent to us.

â€‌ EIL’s job, insists the regulator’s office, is only to collate information, not to summarise or make value judgements. “If companies have apprehensions about sending data to EIL,â€‌ we hear, “they can always send it directly to us.

Our doors are always open.â€‌ One word of caution, however: “Companies must stick to the deadline of November 30 to send in the information.

We want to finalise the regulations for CGD networks by January 1 next year and can not extend that date.â€‌ Plans are also in place to invite industry bodies such as FICCI, CII and ASSOCHAM to set up industry workshops for feedback on the draft regulations.

“Getting feedback individually from each company will take time,â€‌ we hear. “Best is to organise a forum where all the players can interact with each other.

This way, things can move quickly.â€‌ But is the January 1 deadline too ambitious “It looks achievable,â€‌ we hear.

“Unless we get some fundamentally outlandish feedback that forces us to re-write the regulations from beginning to end.â€‌