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GOVERNMENT DROPS PLAN TO CONVERT PORT TRUSTS INTO CORPORATE ENTITIES

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The government has dropped a plan to convert 11 of the 12 ports it owns into corporate entities from a trustee set up, bowing to sustained opposition from the workers’ unions. The decision to drop the proposal, first flagged off by the Atal Bihari Vajpayee government in early 2000, is revealed in a draft bill written by the shipping ministry to overhaul the institutional structure of these 11 ports. Consultations with representatives of trade and industry have been completed. A note for the cabinet for seeking approval of the proposed Bill will be prepared by the first week of June 2016.

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