More powers to ports on operational, financial fronts

In a bid to fast-track development of ports in the country, the government has decided to give more powers to major port trusts by allowing them to take critical operational and financial decisions, Parliament was informed today.
"...Orders enhancing the financial limits and also for streamlining the powers exercisable by major port trusts have been issued by the government," Minister of State for Shipping Pon Radhakrishnan said in a written reply to the Lok Sabha.
The minister said, the orders have been given on recommendations of a committee set up in 2013 to suggest measures to rationalise the extent powers of the major port trust.

"The areas covered include the powers to execute contracts and deposit works, take temporary loans or overdrafts, incur capital expenditure, sanction works, compound or compromise claims, writing off loses and various housekeeping functions," the minister said.
He added, "Safeguards have been provided so as to ensure due diligence and accountability in the exercise of the financial powers."
The minister further said: "These enhanced limits are expected to speed up the decision making process for various activities in the major ports in general and for development works in particular."
India has 12 major ports - Kandla, Mumbai, JNPT, Marmugao, New Managlore, Cochin, Chennai, Ennore, VO Chidambarnar, Visakhapatnam, Paradip and Kolkata (including Haldia) which handle approximately 61 per cent of the country's cargo traffic.