NEW DELHI: The Union cabinet on Wednesday approved the proposal of Ministry of Shipping to replace the Major Port Trusts Act of 1963 by the Major Port Authorities Bill of 2016.
The bill will empower the major ports to perform with greater efficiency on account of full autonomy in decision making and by modernising the institutional structure of major ports.
With a view to promote the expansion of port infrastructure and facilitate trade and commerce, the proposed bill aims at decentralising decision making and to infuse professionalism in governance of ports. The new Major Ports Authority Bill, 2016 would help to impart faster and transparent decision making, benefiting the stakeholders and better project execution capability.
The Cabinet gave “ex-post facto approval” for the MoUs signed in 2008 and 2011 as well as for renewal of MoU between the Institute of Chartered Accountants of India (ICAI) and College of Banking and Financial Studies (CBFS), Oman. The MoU will facilitate working together for strengthening the accounting, financial and audit knowledge base within Oman.
The Cabinet also gave its approval for signing of revised Air Services Agreement (ASA) between India and Nigeria. The earlier agreement was signed on January 31, 1978. ASA permits both countries to designate one or more airlines and they would have the right to establish offices in each other’s territory for promotion as well as sale of air services.