16 Jun 2020 / Gujarat, India
This has reference to the notifications related to the Schedule of Port Charges issued on 8 March 2019… …as per Point 14 of GENERAL TERMS & CONDITIONS, the SOPC rates shall be subject to escalation by the Wholesale Price Index (WPI) with effect from 1 April every financial year.
In this regard, the Reserve Bank of India has released the WPI data for the financial year 2019-20 on 26 April as per which the WPI for the financial year 2019-20 comes to 1.00%.
Accordingly, the rates are escalated/increased by 1.00% of the notified rates from 1 April 2020. The same percentage of increase is also applicable on Water Front Royalty (WFR) rate…
(For further details and information about operations in India, contact GAC India at [email protected])
Source: Extracts from Gujarat Maritime Board Office Order dated 15 June 2020
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