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Govts port monetisation drive delayed due to security clearance

Thursday 5th May 2022    218
Govts port monetisation drive delayed due to security clearance
 

The Centre's ambitious drive to generate revenue from ports has had a slow start with the MoPSW (Ministry of Ports, Shipping and Waterways) which has been able to award projects worth 14 percent of the total target amount in 2021-22. It managed to monetize three projects worth Rs 10 billion, falling short of its target of Rs 69.24 billion out of 13 projects for this fiscal year. The national pipeline for port revenue generation includes nine of the country's 12 major ports.

The 13 projects have been processed but have not yet received security clearance from the Ministry of Defense, the Ministry of Foreign Affairs and the Ministry of the Interior, as the projects fall in strategic areas.

 
 
 
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