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NMPT’s steps to be more competitive

New Mangalore Port Trust (NMPT) has been taking several steps, including abolition of notional booking and payment of speed money to the port’s cargo handling workers, to make the port competitive and attract more business, said NMPT chairman M.T. Krishna Babu.

Speaking to reporters here on Tuesday, Mr. Babu said that even the Parliamentary Standing Committee on Shipping headed by the former Union Minister M. Veerappa Moily had observed that with the practice of notional booking and speed money, NMPT has become costlier.

Financial performance

Mr. Babu said that NMPT registered a net profit of ₹ 124.81 crore in 2017-18 as against ₹ 94.57 crore in the previous fiscal.

There was improvement in container traffic handling too, from 0.95 lakh TEUs to 1.155 lakh TEUs (14.11 lakh tonnes to 17.43 lakh tonnes) during the period.

The port handled 43,973 TEUs (6.41 lakh tonnes) container traffic till July 30 in 2018-19, he added.

Read more at The Hindu.

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