Mumbai Port Trust To Be Fully Corporatised By 2010

In a bid to comply with international shipping norms and improve all round efficiency and profitability, the Mumbai Port Trust (MPT) would be fully corporatised by 2008-2010.

As part of the modernisation drive, a voluntary retirement scheme (VRS) package was implemented, with 10,000 MPT employees out of the 34,000 going for it.

Deputy chairman R R Sinha said on Thursday that efforts were underway to make the port user-friendly. "Though the volume of shipping traffic was about 90 per cent, in terms of value, it was only 10 per cent. The traffic position in MPT is critical in view of the gross domestic product which averaged 2.4 per cent globally. In the event of the recessionary phase ending, the growth potential is projected at 3-5 per cent and India too should match such projections," he said.

Sinha said all paper work would be eliminated through on-line computer services employed for clearances and information. MPT is also considering construction of a flyover at Carnac Bunder to ease traffic congestion at Yelow and Red gate in South Mumbai, he said.

Sinha was speaking at a seminar organised by the All India Association of Industries (AIAI). The association president, Vijay Kalantri, in his speech, sought the removal of the disparity in octroi rates charged at the Jawaharlal Nehru Port Trust (JNPT) and Mumbai Port Trust where Indian trading houses were subject to a deposit for exports and imports, in addition to a 10 per cent administrative charge.