The Union Cabinet on Wednesday approved the exemption of the India Ports Global (IPGL) from the Department of Public Enterprises (DPE) guidelines, except for reservation and vigilance policies. The move will help in smooth execution of Chabahar project in Iran.
According to a government, there is an urgent need to allow IPGL to continue to function as a board-managed firm, duly following instructions of the ministry of shipping and ministry of external affairs, without making the guidelines of the DPE applicable to it for five years. The norms of a public sector enterprise were applicable to IPGL, as its parent firm Sagarmala Development Company is a CPSE.
As a result, guidelines of the DPE are technically applicable on IPGL. The shipping ministry had requested exemptions to IPGL from the applicability of the DPE guidelines to speed up the pace of the Chabahar project, which is country’s first overseas port project with strategic objectives.