The Asian Development Bank is willing to fund the transport policy formulation with emphasis on developing the main traffic corridors in the country. The concept as set out by the bank is to develop the inter-modal transport facilities available in each sector.
The bank has set aside $2.5 million in technical assistance for the project and is approaching the government to work out the modalities. However, inter-ministerial differences have put the brakes on the formulation of a national transport policy.
The bank has already extended a loan to the National Highway Authority of India to help set out a framework for operating projects on build-operate-transfer and build-operate-own basis.
However, a high-level delegation of the British Board of Overseas
Trade was informed by senior government officials during their visit last week, that the government is keen to come out with a policy framework which may help attract foreign investment in the area of infrastructure.
Roger McGlyn, business development director (Asia) of the 240 million pounds consultancy firm, WS Atkins International Ltd, informed the government that his company which is already involved in a couple of projects in India will extend support to the government in formulating the framework.
In our meetings with the ministers of surface transport and urban development we were informed of the government's commitment to removing the bottlenecks coming in the way of investment in infrastructure. The government too realises that these bottlenecks cannot be removed unless a proper policy framework is put in place, said Mc Glyn, while speaking to Business Standard. We have done similar kind of work in Israel and have been advisors for various road projects in the UK. We would be only too willing to assist the Indian government in formulating a framework, he added.
The British Board of Overseas Trade fears that potential investors in the area of infrastructure might be forced to route their investment to other countries if the Indian government does not remove the various bottlenecks.
Board chairman Martin Laing had urged the government to set up a central task force comprising ministers and secretaries of relevant ministries.
This task force should set itself a six-month target to come out with definite proposals for putting in place an effective policy, Laing had suggested.
