Bill passed: Major ports get more powers; pvt investors to get a leg-up
State-run ports in the country, termed ‘major ports’, will get to determine the tariffs for various port-related services as well as the terms for private developers who team up with them, with Parliament on Wednesday passing the Major Ports Authority Bill, 2020.
The new law will supersede a 1963 Act governing the country’s 12 major ports.
It will be curtains down for the Tariff Authority for Major Ports (TAMP); every port will now be governed by a Port Authority (board) which will have the powers to fix reference tariffs for various port services.
