Union Cabinet gave nod to decentralise chartering arrangements to empower PSUs
Union Cabinet in order to empower state government and Public Sector Undertakings (PSUs) has approved to decentralise existing chartering arrangements for cargo shipping.
In other words the leasing of cargo ships and its arrangements will be done directly by Centre and State PSUs without any interference by Ministry of Shipping.
This decision to hand over direct chartering to state government departments and PSUs was taken to provide flexibility in taking quick decisions related to their cargo supply and logistic chain operations.
- This step will also add competitiveness between PSUs to deal with other cargo shipping sector players.
- This step will give flexibility to PSUs to make tailor made solutions for cargo operations.
- It will promote to increase carrier capacity for cargo transportation due to competition.
Categories: Business & Economy Current Affairs 2017