New Bill for PPP in Port Sec­tor to be Tabled Soon

The Economic Times - - Economy - Our Bureau

Mum­bai: The govern­ment will in the next two months ta­ble in Par­lia­ment a Bill that will seek to fa­cil­i­tate a model agree­ment for forg­ing pub­lic-pri­vate part­ner­ships in the port sec­tor.

“In the next two months, we will have a new model agree­ment, hope­fully by June 30. The Min­istry of Ship­ping is com­ing up with a sep­a­rate Bill that can han­dle long-term con­ces­sional ar­range­ment be­tween port and ter­mi­nal op­er­a­tors,” said Ra­jive Kumar, sec­re­tary at the min­istry, said at the Mar­itime In­dia Sum­mit. Kumar said there are sev­eral in­vest­ment op­por­tu­ni­ties in dredg­ing and barges de­vel­op­ment as the coastal cargo move­ment is set to rise by six times in the next 10 years.

Kumar said the ob­jec­tive is to bring down bunker fuel cost fur­ther for all car­goes. States have been re­quested to bring down value added tax on bunker fuel and three states have re­sponded, he said. Ship­ping Min­is­ter Nitin Gad­kari said the govern­ment is se­ri­ously con­sid­er­ing re­vamp­ing the role of the port reg­u­la­tor – TAMP.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.