PUDUCHERRY: AIADMK State Secretary A. Anbalagan has called on the Puducherry government to renegotiate the 16-year-old agreement with the operators of Karaikal Port, citing significant financial losses due to its current terms.

He claimed that the government is losing approximately Rs 50 crore per month, amounting to Rs 600 crore annually, due to inadequate rental and concession fees paid by the private company managing the port.

Addressing a press conference on Friday, Anbalagan emphasised that regardless of which party is in power, "it is the government's duty to ensure it receives its rightful revenue." He stated that Karaikal Port, established in 2009 on 598 acres of government-owned land, was leased at a rate of just Rs 9,000 per acre per year, translating to Rs 52 lakh annually.

Additionally, the company pays only 2.6 per cent of its total revenue as a concession fee, amounting to around Rs 11 crore per year. Over 15 years, the company has paid a total of Rs 165 crore to the Puducherry government, which he argued is a fraction of what the government should rightfully earn.

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