COMPREHENSIVE POLICY NEEDED TO ENLIST PRIVATE PARTICIPATION IN WATER TRANSPORT IN NORTH EAST: PHD CHAMBER

COMPREHENSIVE POLICY NEEDED TO ENLIST PRIVATE PARTICIPATION IN WATER TRANSPORT IN NORTH EAST: PHD CHAMBER

COMPREHENSIVE POLICY NEEDED TO ENLIST PRIVATE PARTICIPATION IN WATER TRANSPORT IN NORTH EAST: PHD CHAMBER

 

No.PR-108
October 6, 2015
New Delhi
 

COMPREHENSIVE POLICY NEEDED TO ENLIST PRIVATE PARTICIPATION IN WATER TRANSPORT IN NORTH EAST: PHD CHAMBER
 

PHD Chamber of Commerce and Industry has urged the government to come out with a comprehensive policy document, containing sufficient provisions for private sector participation in Inland Water Transport (IWT), especially in India’s northern eastern belt so that its existing potential for multiple inland water routes is optimally utilized for larger economic, transportation and even tourism gains.
 

The Chamber has also called for a suitably placed transit mechanism in place that can facilitate transit between India and Bangladesh for a minimum duration 10 years instead of shorter period of 1 to 2 years as is practiced currently.
 

In a statement issued here today, the President, PHD Chamber, Mr. Alok B. Shriram said presently private participation in IWT was limited and scares.  Private operators consider investments in vessels too risky because of lack of assured cargo and uncertainties surrounding Indo Bangladesh trade and transit protocol.  IWT sector requires huge amount of investment in order to make it viable mode of transport in the north east.
 

“There is, therefore, a need to increase public sector investments allocated to this sector in order to enhance its priority as it is essential to bring in private investments in order to realize the full potential of IWT in the north eastern region”, said Mr. Shriram adding that a proper framework needs to be developed in this sector to enable public private partnership which could encourage private investors.
 

According to Chamber, the proposed framework would be developed in such a way that can mitigate the risks borne by private developers while assuring them of adequate return on investments.
 

It has also advocated for prolonging the IWT transit between India and Bangladesh for a minimum period of decade as shorter transit arrangements as exists at present serve little purpose.
 

According to the Chamber, the water and land routes between the northern eastern region and Bangladesh that existed before independence should be explored again and recreated through investments and multi-model planning for which cooperation from Bangladesh should be sought on mutually convenient conditions as such arrangements will benefit both the countries and enhance their trade basket and even third party exports.
 

ENDS

Koteshwar Prasad Dobhal
Consultant (PR)