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No more Ghost money, Speed money allowed in New Mangalore Port : Chairman, NMPT

No more Ghost money, Speed money allowed in New Mangalore Port : Chairman, NMPT

Mangalore Today News Network

Mangaluru, Aug 01, 2018: Addressing media at NMPT in Mangaluru on July 31, Tuesday, Chairman, M T Krishna Babu said that there won’t be any ’Ghost money or Speed money allowed in the Port. He said he has reached an understanding with the Labour Unions in the port that the illegal collection of Ghost money and Speed money by the Port labour will been stoped.

Krishna Babu said that the port has decided to stop notional booking, notional payment and speed money with effect from August 1, in order to decrease logistic costs.  The labour unions have agreed with decision.



He said that he has taken many progressive initiatives to increase the cargo traffic in the port. The New Mangalore Port Trust (NMPT) has achieved a growth rate of 5.28% during the fiscal year 2017-18 by handling 42.06 million metric tonnes of cargo. He also said that during the year 2016-17, the total cargo handled by the port was 39.95 million metric tonne. A target for 45 million metric tonnes has been set for the year 2018-19.

“During 2017-18, a total of 17.43 lakh tonnes of containerised cargo was handled by the NMPT, compared to 14.11 lakh tonnes in the previous year. There has been a growth of 22%,” he added.

“A total of 22 cruise vessels ferrying 24,258 passengers, had called the port during 2017-18. During 2016-17, 28 cruise vessels carrying 30,246 passengers called the port. About 36 cruise vessels with 40,000 passengers are expected this year,” said the chairman.

Fiscal performance : Krishna Babu said that the operating income of the port during the fiscal year 2017-18 is Rs 504.76 crore.

“The profit is 124.81 crore. The operating income and the profit during the financial year 2016-17 were Rs 454.51 crore and 94.57 crore respectively,” he explained.

“The NMPT is all set to be one of the totally mechanised ports in India. Mechanisation projects will be taken up towards handling of bulk cargo through PPP mode, improving rail connectivity and dust control facility,” the chairman said.

He further said that the import of river sand from Malaysia has commenced.

“The NMPT has met 95% of power requirements of the port through solar energy. Also, the sewage treatment plant has also been installed towards industrial usage of treated water. Funds of about Rs 2.6 crore has been spent by the NMPT towards CSR activities,” he added.


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