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One Nation One Tax could end road tax for transfer of vehicles

The latest directive from ‘Ministry of Road Transport & Highways[1]‘ focuses on One Nation One Tax, and ‘One Nation – One Permit’. This recommendation points to uniform ‘Road Tax’ structure and ‘National Permits’ for buses and taxis (vehicles) across states. Uniform tax structure will help curb the practice of vehicle registrations in states with low taxation.

While vehicles are registered in such regions, there’s nothing to stop owners from driving hem regularly in other states similar to someone who buys a vehicle in the state they’re driving in. Changes would bring relief to genuine cases of vehicle transfer when people relocate to a new city for a job, or otherwise.

If state governments implement the recommendation of group of state transport[2] ministers (GoM), vehicles owners needn’t pay road tax to transfer their vehicle from one state to another, or get a new registration number. The proposal would be applicable to vehicles that are atleast two years old, and the tax rate between both states is lower than 2 percent. The Ministers led by Yunus Khan, Minister for Transport, Rajasthan and other State Transport Ministers are looking for solutions to address problems plaguing the road transport sector to improve road safety and ease of transport.

One Nation One Tax, and One Nation – One Permit proposal was discussed. An introduction of an online process is suggested for inter-state transfer of vehicles and driving licences. The need for a no objection certificate (NOC) is also being reconsidered in a bid to curb corruption, and put a check on harassment faced by public in such long and complicated processes that entail expenses.

1/4 GoM on Transport deliberates upon One Nation- One Tax and One Nation- One Permit in Guwahati today.@nitin_gadkari @transform_ind @PMOIndia pic.twitter.com/xpspqN1hz8[3][4][5][6]

— MORTHINDIA (@MORTHIndia) April 20, 2018[7]

2/4 The GoM on Transport has recommended a uniform structure of road tax for vehicles across states. @nitin_gadkari @PMOIndia @transform_ind[8][9][10] — MORTHINDIA (@MORTHIndia) April 20, 2018[11]

3/4 The GoM has also recommended a national bus and taxi permit on lines of such permit for goods transport.@nitin_gadkari @PMOIndia @transform_ind[12][13][14] — MORTHINDIA (@MORTHIndia) April 20, 2018[15]

4/4 In order to promote alternate fuel for vehicles the GoM has proposed liberalisation of permit system for electric vehicles.@nitin_gadkari @PMOIndia @transform_ind[16][17][18]

— MORTHINDIA (@MORTHIndia) April 20, 2018[19]

A national bus and taxi permit for goods transport can be a solution. Public transport annual growth is 2 percent when compared to 20 percent 20 percent annual growth in private transport. A national permit will boost public transport and help reduce road congestion through One Nation One Tax proposal.

In order to support alternate fuel for vehicles the proposal is for liberalization of permits for electric vehicles.

Tax on diesel vehicles is also proposed to be increased by 2 percent while tax on electric vehicles is to be lowered.

References

  1. ^ Ministry of Road Transport & Highways (www.rushlane.com)
  2. ^ transport (www.rushlane.com)
  3. ^ @nitin_gadkari (twitter.com)
  4. ^ @transform_ind (twitter.com)
  5. ^ @PMOIndia (twitter.com)
  6. ^ pic.twitter.com/xpspqN1hz8 (t.co)
  7. ^ April 20, 2018 (twitter.com)
  8. ^ @nitin_gadkari (twitter.com)
  9. ^ @PMOIndia (twitter.com)
  10. ^ @transform_ind (twitter.com)
  11. ^ April 20, 2018 (twitter.com)
  12. ^ @nitin_gadkari (twitter.com)
  13. ^ @PMOIndia (twitter.com)
  14. ^ @transform_ind (twitter.com)
  15. ^ April 20, 2018 (twitter.com)
  16. ^ @nitin_gadkari (twitter.com)
  17. ^ @PMOIndia (twitter.com)
  18. ^ @transform_ind (twitter.com)
  19. ^ April 20, 2018 (twitter.com)

U.S. Questions Cosco’s Takeover of Cargo Terminal in Long Beach

A U.S. national-security review has raised concerns about China’s Cosco Shipping taking control of the Long Beach, Calif., container terminal. Photo: Bloomberg News By Costas Paris in New York and

Joanne Chiu in Hong Kong

April 20, 2018 2:34 p.m. ET 8 COMMENTS [7]

A U.S. national-security review has raised concerns about Chinese state-run conglomerate Cosco Shipping Holdings Co. taking control of a large container terminal in Long Beach, Calif., according to people familiar with the matter. The terminal is part of Cosco’s proposed £6.3 billion purchase of an Asian shipping rival[8], which holds a long-term concession to operate the facility at the Port of Long Beach, one of the biggest gateways for imports into the U.S.

Cosco’s takeover of Orient Overseas International[9] Ltd. 0316 0.78% [10] , announced in July 2017, is undergoing a review by the Committee on Foreign Investment in the U.S., a secretive federal panel that vets foreign purchases of American companies[11] on national-security grounds.

Cosco executives met with CFIUS officials this week and proposed to divest or carve out the Long Beach terminal to satisfy U.S. concerns about the deal, the people said.

“The Long Beach terminal is a prized asset, but it’s turning to be a roadblock to the completion of the deal, so it will likely be taken out of the equation,” one person said. “The plan is to sell it.”

It is unclear if that would satisfy concerns at CFIUS, which is chaired by the Treasury Department. A Treasury spokesman declined to comment.

Related

The Long Beach terminal is one of the few in the U.S. that is almost fully automated and can handle some of the largest container vessels.

The terminal is expanding to facilitate ships carrying more than 20,000 boxes each. Cosco Vice Chairman Huang Xiaowen said on April 3 that the deal was on track to be completed by June, noting American approval was needed as Orient Overseas had assets in the U.S. “Up to now we are quite confident to push forward this acquisition…. It’s progressing normally,” he said at a news conference.

CFIUS has scuttled several recent transactions, including Broadcom[16] Ltd.’s £117 billion takeover of chip rival[17] Qualcomm[18] Inc. and the sale of MoneyGram International Inc.[19] to Chinese billionaire Jack Ma’s Ant Financial Services Group.

Its review of the shipping deal comes at a tense time between the U.S. and China, with leaders threatening to impose new tariffs and regulators on both sides of the Pacific weighing in on more matters. On Thursday, China’s antitrust regulator said it had concerns about[20] Qualcomm Inc.’s £44 billion purchase of rival NXP Semiconductors[21] .

Days earlier, the U.S. banned American companies from selling products to ZTE Corp.[22], a Chinese maker of telecommunications equipment. Cosco, which operates around 350 container ships, hasn’t hidden its ambition to become one of the world’s dominant carriers.

A takeover of Orient Overseas would make Cosco the world’s third-biggest container operator in terms of capacity, behind Denmark’s Maersk Line and Switzerland-based Mediterranean Shipping Co. It also would create the second-biggest mover of U.S. imports with an 11.8% market share, and the third largest in terms of exports with an 8.5% share, according to the Journal of Commerce.

Orient Overseas, which is listed in Hong Kong, is the world’s seventh biggest operator with around 100 ships in operation. Apart from the Long Beach terminal, it operates a container terminal in southern Taiwan.

Cosco has minor investments in other U.S. ports, including another pier at Long Beach as well as at the ports of Los Angeles and Seattle. These assets haven’t been part of the discussions, the people said. The proposed Cosco deal would also need approval from China’s Ministry of Commerce, which is waiting for CFIUS’s ruling.

–Kate O’Keeffe contributed to this article.

References

  1. ^ Biography (www.wsj.com)
  2. ^ @CostasParis (twitter.com)
  3. ^ [email protected] (www.wsj.com)
  4. ^ Biography (www.wsj.com)
  5. ^ @joannechiuhk (twitter.com)
  6. ^ [email protected] (www.wsj.com)
  7. ^ 8 COMMENTS (www.wsj.com)
  8. ^ £6.3 billion purchase of an Asian shipping rival (www.wsj.com)
  9. ^ Orient Overseas International (quotes.wsj.com)
  10. ^ 0316 0.78% (quotes.wsj.com)
  11. ^ vets foreign purchases of American companies (www.wsj.com)
  12. ^ ZTE’s Surprise U.S.

    Success, Now Under Threat (www.wsj.com)

  13. ^ Billionaire Raises His Bet on Container Ships (www.wsj.com)
  14. ^ China’s Cosco to Buy Shipping Rival Orient Overseas for £6.3 Billion (www.wsj.com)
  15. ^ Chinese Shipping Giants Seek Control of ‘Maritime Silk Road’ (www.wsj.com)
  16. ^ Broadcom (quotes.wsj.com)
  17. ^ £117 billion takeover of chip rival (www.wsj.com)
  18. ^ Qualcomm (quotes.wsj.com)
  19. ^ the sale of MoneyGram International Inc. (www.wsj.com)
  20. ^ said it had concerns about (www.wsj.com)
  21. ^ NXP Semiconductors (quotes.wsj.com)
  22. ^ banned American companies from selling products to ZTE Corp. (www.wsj.com)

Green Cargo orders additional Softronic locomotives

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Photo: Green Cargo.

Swedish freight operator Green Cargo has ordered six new Transmontana locomotives from Romanian manufacturer Softronic. The new six-axle, electric Loken locos will be delivered in autumn 2019.

The high power locomotives have electric braking and are designed to cope with the tough Nordic climate. Green Cargo chief executive Jan Kilstrom said the new locomotives will increase capacity and lower maintenance costs. Green Cargo ordered two Transmontana locomotives in July 2017.

These are due to enter service later this year.


Read more: RegioJet receives first Traxx locomotives[1]


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References

  1. ^ Read more: RegioJet receives first Traxx locomotives (www.globalrailnews.com)
  2. ^ Keltbray Group to form electrification JV in pursuit of works in Canada (www.globalrailnews.com)

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