Question : REVIVAL PROPOSAL FOR CIWTC



(a) whether the Government has any proposal to revive Central Inland Water Transport Corporation (CIWTC);

(b) if so, the details thereof and the reasons therefor; and

(c) if not, the plan of the Government in this regard ?

Answer given by the minister


MINISTER OF THE STATE IN THE MINISTR OF SHIPPING, ROAD TRANSPORT AND HIGHWAYS (SHRI T.R. BAALU)

(a)to(c) : Cabinet had in its meeting held on 1.12.2005 decided that the Rajabagan Dockyard (RBD) should be handed over to Garden Reach Shipbuilders & Engineers

(GRSE) or to any other Public Sector Enterprises along with existing manpower, assets and liabilities. It was also decided that outstanding principal amount as on 31.3.2005 be converted into equity and interest should be written off. It was further decided that Voluntary Retirement Scheme (VRS) should be introduced in Central Inland Water Transport Corporation (CIWTC) to bring down the manpower level and CIWTC minus RBD should be disinvested in favour of private parties.

As per present status of implementation of above package, Rajabagan Dockyard stands transferred to Garden Reach Shipbuilders & Engineers with effect from

1.7.2006. Orders have been issued for conversion of outstanding principal amount as on 31.3.2005 into equity and for writing-off of outstanding interest as on 31.1.2007. Voluntary Retirement Scheme has been introduced in CIWTC and at present the number of employees in CIWTC is 470. Action has been initiated by the Department of Shipping to assess the viability of disinvestment of Central Inland Water Transport Corporation with varying employees` strength.