December 03, 2008

Regulatory panel proposed for ports and shipping sector

Exim News Service reported that the parliamentary standing committee on transport, tourism and culture has recommended the setting up of a regulatory authority for the shipping and port sector. Such an authority was suggested on the lines of regulators in the telecom and insurance sectors, so as to foster healthy competition and adjudication of disputes.

The committee observed in its report that "Since much of the activities in the port and shipping sector are taking place with private participation, there is need to establish a regulatory authority well in time, and that too before coming across any problem, for better control, coordination and monitoring for achieving excellence in port and shipping sector."

The panel also pointed out that in spite of having 12 major ports and 200 small ports in India, the department of shipping was unable to exploit the boom that was taking place the world over in areas of shipbuilding, dredging and merchant shipping.