STRATEGY FOR CORPORATISATION
OF MAJOR PORTS
RAJYA SABHA
Efforts are made on
a continuous basis to improve the working of major ports and to
facilitate them in taking prompt decisions in a commercial environment.
Government has decided to corporatise Major Ports in a phased
manner. At present, Major Port Trusts are required to prepare
Annual Statement of income and expenditure, which merely shows
operating surplus and they do not maintain Accounts on commercial
lines; not do they maintain profit and loss accounts. Corporatisation
of major ports would make profit and loss statements mandatory
and will lead to the establishment of commercial accounting practices,
creation of profit centres and drawing up of balance sheet. Major
Port Trust (Amendment) Bill, 2001 has been introduced in the Parliament
which seeks to amend Major Port Trusts Act, 1963 to enable the
Government to corporatize existing 11 Major Ports. The said Bill
stands referred to the Department-related Parliamentary Standing
Committee on Transport and Tourism for examination and report.
The 12th Major Port at Ennore has been set up as a
corporate entity under the Companies Act, 1956. Consultation with
the Industries Chamber, Port users, Port operators etc., is a
continuous process.
This information
was given in the Rajya Sabha today by Shri S. Thirunavukkarasar,
Minister of State for Shipping in a written reply to a question
by Shri C.P.Thirunavukkarasu.
