Building on its case to transform India's state-owned ports into self-reliant commercial entities, the Ministry of Ports, Shipping and Waterways is considering expanding the autonomy of major ports in making decisions regarding capital expenditure (capex), according to officials familiar with the developments.
"There is a proposal under consideration that would allow all 12 major ports to undertake capex at their discretion, but only using their internal resources. This would increase the level of corporatization of these ports and reduce dependence on bureaucracy," said a senior government official.
The government plans to categorize India's 12 major ports into four groups based on the size of operations and other factors, which will determine the ceiling for capex that can be undertaken without the need for approval.
Denne historien er fra November 22, 2024-utgaven av Business Standard.
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Denne historien er fra November 22, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Isro to study how crops grow in space
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Boost term cover with rising income and liabilities
Increase health cover to tackle rising medical costs; consider super-topup and critical illness plan
