The Union government will allow the trusts that run the 12 ports owned by the Union government to raise rates for port services every year based on market conditions if they adhere to certain performance standards. For this, the Union Shipping Ministry is working out on a plan.
Presently, rates charged by these trusts for cargo and vessel-related services are worked out on the basis of a guideline framed in 2005. The Ministry’s move forms part of an overall plan to migrate the rate regime for existing services governed by the 2005 guideline to the market-linked rate regime announced on July 31 for new projects to be run both by government-owned port trusts as well as private firms.
But the ministry has decided to have separate rate frameworks for services provided by the port trusts and private investors.