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Profits of major ports decline, Govt to cut manpower
August 21, 2013August 21, 2013by In Power & New and Renewable Energy

Profits of major ports decline, Govt to cut manpower

Taking note of reduction in the profits of its 12 major ports in the country, the government of India has taken several steps to reduce costs. As a cost cutting measure, the Centre wants to reduce surplus manpower through the Voluntary Retirement Scheme (VRS). The Union Shipping Minister GK Vasan said this in the Lok Sabha recently. Profit of major ports declined by about 30 per cent to Rs 1,220.61 crore in 2012-13 over the previous fiscal, Vasan said in a written reply to the Lok Sabha.