CANADA EXTENDS PORT DIVESTITURE PROGRAM FOR THREE YEARS

CANADA EXTENDS PORT DIVESTITURE PROGRAM FOR THREE YEARS    Canada Transport said it would extend its port divestiture program until March 31, 2006.
   “Extending the life of the port divestiture program by three years will enable the government of Canada to pursue further possibilities for divestiture,” said Canadian Transport Minister David Collenette.
   The 1995 National Maritime Policy, which was developed to reduce overcapacity and improve efficiency in Canada’s ports, established three categories of ports: Canada Port Authorities, regional/local ports, and remote ports.
   The port divestiture program was created in 1996 as a way to transfer regional/local ports to local ownership and control. Transport Canada will continue to own and operate certain remote ports unless local groups are interested in divestiture.
   By the end of February, Transport Canada had divested 439 of its original inventory of 549 ports, saving Canadian taxpayers more than $122 million, the agency said.