Mumbai, Dec 8: The Shipping Corporation of India (SCI) is planning to implement a part of the recommendations made in the PricewaterhouseCoopers (PwC) report for restructuring the company. The SCI board recently decided to appoint a panel, which would shortlist recommendations to be implemented, a SCI offical said.The first few recommendations of the PwC that are likely to get priority are: web-based chartering, container tracking, inventory and demurrage control. Other recommendations likely to be undertaken are: control on the agency activities as well as working capital and financial management. A co-ordination committee, with members from the PwC and the SCI, would be set up for proper implementation, the offical said.
The entire process would be completed within two-three years. The investments for the required hardware and software will be decided by the committee, he said. The implementation of the PwC recommendations has nothing to do with the appointment of the global advisor and the proposed disinvestment of the SCI. The SCI board had appointed PwC and disinvestment in the SCI would be taken by government in its capacity as its owner, the offical said. PwC was roped in as a consultant to sort out the shortcomings in SCI and recommend ways to eliminate the same.
Among the other recommendations, PwC had also suggested restructuring of the SCI into three separate profit centres - container division, bulk and tanker division and offshore division. A presentation by PwC was made to the ministry of surface transport on its findings on SCI two months back.
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