|
: There are now increasing number of reports that the shipping ministry does not want the Planning Commission to be involved in port projects. The port projects require a mandatory in-principal approval from the Planning Commission before approaching the finance ministry. According to the shipping ministry this only adds to red tape and inordinate delays. The shipping ministry is ostensibly trying to give ports greater autonomy, even while enhancing their financial powers. Port trusts have only liberty of incurring Plan expenditure up to Rs 50 crore in fresh investments and up to Rs 100 crore for renewal of assets. The limits are also in all likelihood be revised upwards. Port trusts are free to appoint project management consultants for self-financed projects or PPP even before project sanction by the shipping ministry or the public-private partnership appraisal committee. In the event of Planning Commission getting out of the way of the shipping ministry the new move will be applicable to all projects under the National Maritime Development Programme (NMDP) and annual Plan projects.
More from Sme World
Discuss this story on expressindia forums
|
|
 |
 |
 |
About Us | Contact Us | Advertisers | Site Map | Make us your homepage | Work for Us | RSS | Subscribe | Electronic Edition | Privacy Policy© 2009: The Indian Express Limited. All rights reserved throughout the world
