On 31st July 2013, the Union Minister for Shipping, Mr. G.K. Vasan, and Minister of State for Shipping and Communications and IT and MP, Milind Deora, addressed the press on the release of the new tariff guidelines for Major Port Trusts in Mumbai.
The new simplified guidelines are expected to pave way for increased investment flows into the port sector. Additionally, it will allow the competitive market forces to play a greater role in tariff determination and impart flexibility. This is a major step forward.
The new guidelines for determination of tariff for projects and major ports come into force with immediate effect. Besides providing for tariffs to be indexed to inflation, they also set out performance standards for port projects to improve accountability and ensure improved quality of service. The focus TAMP will now gradually shift to performance monitoring and redressing grievances.