Ports Bill being prepared to make tariffs transparent
PORTS & SHIPPING

Ports Bill being prepared to make tariffs transparent

The Centre is currently developing a new legislative framework for ports. They aim to introduce transparency in port tariffs, update penalties for offenses, and replace over 110 years' worth of rules with more than 15 new sets.
It was stated by a high-ranking government official that the proposed Indian Ports Bill for 2023 is intended to replace the Indian Ports Act from 1908. The goal is to grant authority to the Maritime States Development Council (MSDC) and encourage coordinated planning between states and the Centre regarding port development.
The new legislation will assist in the more precise determination of port tariffs. According to the official, the definition of port tariffs is proposed to be broadened to encompass various components, including port duties, with a strong emphasis on transparency and deregulation.
Under the existing laws, major ports are administered by the Centre, while non-major ports fall under state jurisdiction. This control structure remains intact in the new bill. However, according to the proposal, the central government can instruct any port to implement a system for electronically integrating port-related data into a centralised system.
This recent amendment takes a moderate approach by toning down contentious provisions that appeared to encroach upon the rights of state governments, which were suggested in previous versions.

Also read: 

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

The Centre is currently developing a new legislative framework for ports. They aim to introduce transparency in port tariffs, update penalties for offenses, and replace over 110 years' worth of rules with more than 15 new sets.It was stated by a high-ranking government official that the proposed Indian Ports Bill for 2023 is intended to replace the Indian Ports Act from 1908. The goal is to grant authority to the Maritime States Development Council (MSDC) and encourage coordinated planning between states and the Centre regarding port development.The new legislation will assist in the more precise determination of port tariffs. According to the official, the definition of port tariffs is proposed to be broadened to encompass various components, including port duties, with a strong emphasis on transparency and deregulation.Under the existing laws, major ports are administered by the Centre, while non-major ports fall under state jurisdiction. This control structure remains intact in the new bill. However, according to the proposal, the central government can instruct any port to implement a system for electronically integrating port-related data into a centralised system.This recent amendment takes a moderate approach by toning down contentious provisions that appeared to encroach upon the rights of state governments, which were suggested in previous versions.Also read: MMRDA plans 350 sq km Town in Mumbai Harbour           Dwarka comes up with mega convention space, Yashobhoomi

Next Story
Real Estate

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Next Story
Real Estate

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Next Story
Infrastructure Urban

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement