Port stevedoring rates increase 5.8%

The Ministry of Maritime Affairs and Fisheries (MOMAF) announced it will allow a 5.8% increase in stevedoring rates at ports across the nation as of March 20, 2002.

Though the ministry conferred with the Ministry of Finance and Economy (MOFE) to increase the rates by 7.4% considering commodity price increases and wage increases, it reconsidered the rate and decided to increase it by only 5.8%, which it considered to be more in line with government policies and the current economic situation.