Shipping Ministry Unveils Relief Package For Cargo-terminal Operators At Major Ports

Firms allowed to defer three months’ payment of revenue share, royalty, equipment-hire charges.

- P Manoj

The Shipping Ministry has allowed firms running cargo terminals at state-owned major ports on the public-private-partnership (PPP) mode to defer their April, May and June months’ revenue share, royalty, and equipment hire charges without any interest.

This is part of a relief package signed by the Shipping Minister Mansukh Mandaviya to ease the burden on PPP operators, port users and other stakeholders hit by COVID-19 outbreak.

The revenue share, royalty and equipment hire charges deferred will have to be paid by the PPP operator after interest-free period of three months (reckoned month to month — the charges due in April 2020 shall be paid in month of August 2020).

Alternatively, the deferred amount can be paid through six-monthly equated instalments at interest rate equal to RBI’s 91-days treasury bill (primary) yield rate (as on the due date of initially deferred amount) after expiry of interest-free period, according to an order issued by the Ministry late on Tuesday.