The Union Cabinet has approved the exemption of the India Ports Global Ltd (IPGL) from the DPE Guidelines, except reservation and vigilance policies.
About:
IPGL was incorporated under Companies Act 2013, as a Special Purpose Vehicle jointly promoted by Jawaharlal Nehru Port Trust (JNPT) and Deendayal Port Trust (DPT), under Administrative control of Ministry of Shipping, for development and management of Shahid Behesthi Port of Chabahar in Iran.
In 2018, all the shares of JNPT & DPT were purchased by "Sagarmala Development Company Ltd" (SDCL). SDCL is a CPSE and therefore IPGL being subsidiary of SDCL has also become a CPSE. As a result, Guidelines of DPE are technically applicable on IPGL.
Since Chabahar Port is Country's first overseas port project with strategic objectives, there is an urgent need to allow IPGL to continue to function as a Board managed company, without making the guidelines of DPE applicable to it for a period of 5 years, for smooth execution of the project.
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