The Hindu Business Line : Mumbai Port Trust wins cost management award

Mumbai Port Trust has won the first prize for ‘excellence in cost management’ instituted by the Institute of Cost and Works Accountants of India, under the ‘public/ private – service – organisation’ category.

A press release from Mumbai Port Trust acknowledges that cost management played ‘a vital role in turning around the port operations for sustenance and growth.’

Over the last five years, its cargo throughput increased by two times with about 15 per cent CAGR (compounded annual average growth rate).

“Mumbai Port Trust applied knowledge in cost management tools effectively into the decision support system of the port.

Various measures of strategic importance were taken through these years with the primary goal of keeping the cost under control and retaining competitiveness in order to attract more cargo into the port,” states the release.

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