Structural reform designed to help major ports compete with private ports and check diversion of cargo
The Centre-owned 11 major port trusts will start afresh under a new law from Wednesday, allowing them to shed decades-old baggage that was an impediment to growth and help them compete with modern, private ports on the back of greater operational freedom including market pricing of services.
The Major Port Authorities Act was passed by Parliament in February and notified in the gazette on February 18, but was waiting for the ministry of ports, shipping, and waterways to frame the rules for implementation. The rules have now been finalized and the new law will take effect from November 3, government officials said.