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Our Bureau

Visakhapatnam , Aug. 16

DREDGING Corporation of India, which has its headquarters here, has to compete with the MNCs in view of the changed dredging policy of the Government and therefore the employees have to put in greater efforts, Mr Neerav Kumar Gupta, Chairman and Managing Director, has said.

He said the ports in the country were going in for tendering on international basis and "therefore we have to compete with the MNCs to get orders".

He said the DCI was equal to the task and it had the capacity to compete in the open market. However, there were still areas for improvement.

The Budget proposals such as tonnage tax and the abolition of section 33 AC of the Income-Tax Act had an adverse impact on the performance of the DCI, he said.

"We have to pay 37 per cent of the income as taxes, whereas our competitors, the MNCs, are paying only one or two per cent. We are indeed in a spot," he said.

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