04 June 2016 Current Affairs: V.O. Chidambaranar Port has bagged National Award for Excellence in Cost Management for the year 2015 from The Institute of Cost Accountants of India under the category of Public Service Sector- Small.
The port participated in the 13th National Awards for Excellence in Cost Management-2015, organised by The Institute of Cost Accountants of India. This is the third time this port is receiving the award , the earlier years being 2008 and 2012.
The award has been given for exemplary performance of V.O. Chidambaranar Port towards optimization of manpower, savings in electricity, implementation of Solar Energy Systems, reduction of overall cost of handling by mechanization and improvising efficiency and logistics support.
The Institute of Cost Accountants of India, a statutory body under an Act of Parliament, presents awards for excellence in Cost Management to promote and recognize Cost Management practices in the Corporate Sector. The awards under various categories were selected by a Jury panel headed by Honble Justice Mr. V.N.Khare, former Chief Justice of India and persons of eminence from Industry, Government, Judiciary and CMA profession.