Shipping ministry wants early disbursal of subsidy for IWT

KOLKATA: Union Shipping Ministry would take steps for early disbursal of subsidies for development of three national waterways and acquiring inland water vessels from private parties to facilitate substantial shift of cargo to this mode.
"We are focussing on early disbursal of subsidy for the inland water transport (IWT) sector so that visible results can be brought in," Union Shipping Minister Vedprakash P Goyal said here on Sunday.
The government, he said, would encourage joint ventures in IWT sector and also provide subsidies for acquiring vessels from private parties by the Inland Waterways Authority of India.
The Inland Water Transport Policy, formulated by the government, includes a 30 per cent subsidy payable by IWAI to private entrepreneurs upon taking delivery of the vessels.
Besides this Inland Vessel Building Subsidy Scheme (IVBSS), the government would also take initiatives for joint venture to operate vessels in the national waterways, he said.
"We have held talks with some people. Many parties are showing interest to invest in this sector. But, this is an uncharted area, so we have to first build the infrastructure to attract investment," he said.
For this purpose, he said, the shipping ministry has asked the IWAI to work together with the Central Inland Water Transport Corporation.