Kochi Corporation to introduce new financial management system for ro-ro services

The Kochi Corporation sub-committee has been given 15 days to examine the bank account of the ro-ro services currently managed by the Kerala Shipping and Inland Navigation Corporation Ltd. (KSINC), and to propose revised terms for a new agreement with the agency that will eventually replace KSINC.

The sub-committee was set up at an all-party meeting convened to review the corporation’s ro-ro operations following widespread complaints across political affiliations about KSINC’s alleged inefficiency, which has left the civic body burdened with mounting liabilities. Mayor VK Minimol issued the instructions to the sub-committee after KSINC presented fresh accounts in its latest quarterly report and claimed profits after consecutive years of losses.

“We plan to introduce a new financial management system whereby a joint account will be opened in the name of the corporation and any agency that replaces KSINC to ensure better accountability. All transactions will be fully digitized. Currently, the corporation has little control over the account, which is completely managed by KSINC,” the mayor said.

The Corporation is keen to incorporate Kochi Metro Rail Limited (KMRL) as a new operator of ro-ro services. All three vessels will be handed over to the new agency within three months.

Dry docking of the existing two vessels will be carried out once the newly launched third vessel begins commercial operations.

If KMRL refuses, the corporation proposes to create a special purpose vehicle to run the services. This option, mentioned in the company’s budget, drew criticism from the opposition, who saw it as a move towards privatisation.

Ms Minimol noted that KSINC authorities had claimed the ro-ro services were profitable but had been dragged down by losses from the Fort Queen passenger ferry, which they say was in operation until 2023. “Whatever the reason, we have decided to replace KSINC,” she said.

The company has also decided to prepare a list of priority users to be prioritized on ro-ro services, with the list prominently displayed at the jetty.

“It will be limited to essential services, defence, corporation councilors and court officers. Passes have been issued indiscriminately, leading to frequent disputes at the jetty. We want to streamline the process,” Ms Minimol said.

Meanwhile, the company has christened the free ride program for women passengers, excluding motorists, on ro-ro services as Indira Ride. The council approved the resolution at its Monday (June 29) meeting.

Published – 01 Jul 2026 01:31 IST