New Bill for PPP in Port Sector to be Tabled Soon
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.