Railway Ministry launches two liberalised Policies

The Union Railway Ministry has launched two policies related to Parcel Cargo Train Express and Parcel Leasing. They were launched by Union Railway Minister Suresh Prabhu.
They are Liberalised Comprehensive Parcel Leasing Policy (CPLP) and Liberalised policy on Parcel Cargo Express Trains (PCET).
These policies were launched as part of 2016-17 Rail Budget announcements to make the policies related to Parcel Leasing and Parcel Cargo Express more liberalized and customer friendly.
Key Facts

• Liberalised Comprehensive Parcel Leasing Policy (CPLP): Under it the duration of parcel leasing scheme has been increased to 5 years from 3 years.
• It seeks to insulate parcel from budgetary hike by providing assured leased rates with fixed escalation at 10 per cent from 4th year.
• It also opts for realistic assessment of bids and delegates powers to Zonal railways to fix the reserve price downwardly.
• Liberalised policy on Parcel Cargo Express Trains (PCET): Under it duration of contract has been increased to 6 years from 3 years.
• In order to insulate PCET from budgetary hike it provides for assured leased rates with fixed escalation at 10% from fourth year. It also opts for realistic assessment of bids.
• The minimum composition of PCET has been reduced to 15 vans for first 6 months of the contract period in order to give time to the leaseholder in the initial stage to develop business.

Besides, Railway Minister also flagged off an inaugural time-tabled container train named ‘Cargo Express’ between Domestic Container Terminal (Okhla) and Whitefield (Bengaluru). He also launched an integrated social media platform (Facebook and Twitter) for redressal of grievances of railway passengers.

Month: Current Affairs - June, 2016