State-owned Jawaharlal Nehru Port Trust (JNPT) is drafting a special voluntary retirement scheme (SVRS), joining Chennai Port Trust in packing off workers as the Parliament looks set to pass a bill that seeks to convert ‘port trusts’ into ‘port authorities’ in the biggest structural reform of 11 of the 12 ports controlled by the Central government.
The Major Port Authorities Bill is included in the list of bills to be taken up for passage by Parliament in the monsoon session beginning Monday.
Major Port Authorities Bill
Under the new law, the 11 ports will don the role of landlords – a model widely followed globally wherein the publicly governed port authority acts as a regulatory body and as landlord while private companies carry out cargo handling activities.
Here, the port authority maintains ownership of the port while the infrastructure is leased to private companies that provide and maintain their own