MUMBAI: The Maharashtra government is contemplating a new port policy to attract private investment in the sector, chief minister Ashok Chavan told media persons on Friday. 

Mr Chavan chaired a meeting on the status of ports in the state on Friday. The chief minister said the proposed policy would be on the lines of the mega industrial project policy that the state has put in place to attract FDI.

“The mega project policy for industrial investment has been immensely successful in the last four years. The state has bagged big-ticket industrial projects in virtually all sectors because we have been able to put in place a single window clearance system and also give customised packages to the investors. A similar policy could be formed for the ports,” Mr Chavan said.

The chief minister even indicated the government’s willingness to carry out legal changes if required to facilitate private investment in the port sector.

“The sector needs to be incentivised and customised to attract investment. We will draft a comprehensive policy which looks at all these aspects and bring it before the state Cabinet soon,” Mr Chavan said.

A bureaucrat associated with the port sector said the policy would address all the technical and procedural issues pointed out by the industry representatives.

“Despite boasting of an enviable coastline and strong industrial fundamentals, Maharashtra has not been able to formulate an investor-friendly port policy. The existing ports in Maharashtra are not able to exploit the full potential of the state. We need to address the concerns raised by the shipping and port industry representatives from time to time,” the official said.

This official said the state was also looking at its neighbour Gujarat, which is also Maharashtra's top rival in the industrial sector, for its port policy.

Courtesy:economictimes.indiatimes.com.