Industry & Economy
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No need for SCI privatisation: Baalu
Our Bureau
New Delhi
,
May 26
THE Minister for Surface Transport, Mr T.R. Baalu, has stated that he was not in favour of privatising Shipping Corporation of India (SCI), but supported the proposal for introduction of tonnage tax for the shipping industry.
Mr Baalu also said that he would pursue the development of the long-pending Sethusamudram ship canal project to its finality.
"Once all the clearances are in place, I will see to it that the project is implemented as quickly as possible without any fund constraints," he stated.
Addressing presspersons here after taking charge, Mr Baalu said that SCI was a profit-making entity. "As such, it is not necessary to privatise SCI," he said.
At the same time, the Minister said that he welcomed private investments in building cargo handling facilities at major ports.
Referring to the tonnage tax proposal, Mr Baalu said that it was a positive development for the shipping industry, which stands to benefit from the new system of taxation.
"But, the proposal would also require consent of the Finance Minister. Without his support, the tonnage tax proposal cannot be implemented," he noted.
While pledging his commitment for the continuation of the National Highways Development Programme (NHDP) initiated by the previous NDA Government, Mr Baalu said that the cess on petrol and diesel will have to be levied till such time the Golden Quadrilateral and the cross-country corridors are completed.
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