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Private players can fix tariff based on market conditions in PPP projects in ports once the Major Port Authorities bill is passed

The concessionaire who operates a Port facility in a major port under the Public Private Partnership mode has been given the freedom to fix tariff based on market conditions once the Major Port Authorities Bill was adopted by both the houses of parliament.

Even as the official bill is pending in the Lok Sabha for the past eighteen months, the Union Cabinet which met on February seventh has approved several amendments in the bill. One of the major amendments in the bill adopted by the cabinet is to give the freedom to private players to fix tariff in major ports.

An official release said the amendments were based on the recommendations of the Department related Parliamentary Standing Committee.

The Board of each major port will be entitled to create a specific Master Plan in respect of development of infrastructure established or proposed to be established within the port limits and the land appurtenant thereto. Such Master plans shall be independent of any local body or state government regulations of any authority whatsoever.

The number of labor representatives to be appointed to the Port Authority board among the service employees of the Port has been increased from one to two.

The members in the board representing the employees shall hold office for a term of three years and shall not hold office for more than two consecutive terms. His or her board membership is coterminous with retirement from service.

The number of independent members in the Port Authority board would be a minimum of two to maximum of four.

All the moneys received by or on behalf of the Board under the provisions of the Act shall be credited to such general account or accounts of the Ports which the Board may from time to time generally open with any nationalized bank or any Scheduled bank as per the guidelines of the Union Finance Ministry.

The Presiding Officers and members of the Adjudicatory board shall be appointed by the Central government on the recommendations of the selection committee. Central government shall have the powers to remove the Presiding officers or any member of the Adjudicatory board from the office following the prescribed manner.

 

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