Sunday, February 18, 2018

Economic Services

Regulation

Economic Regulation forms part of the core functions of SUMATRA. It focuses on the key  issues of price, quality of service/ products, and competition in the Surface and Marine Transport Sub-sectors. The regulations are aimed, on one hand, at protecting the rights of consumers to transport services, and on the other hand, to protect the financial viability of efficient providers.  

  1. The Economic Regulation functions include, among others, the following:-
  2. Promoting Surface and Marine Transport services
  3. Ensuring effective competition in Rail, Road, Marine, Ports and Shipping Services
  4. Regulating and/or reviewing rates, charges and tariffs for the supply of the regulated goods and services
  5. Monitoring adequacy of investments made to facilitate the provision of goods and services for which service providers will be entitled for reasonable return
  6. Monitoring availability, cost, standards, efficiency of supply, distribution and quality of the regulated goods and services
  7. Determining and/or monitoring national and international benchmarks which can be used in determining the reasonableness of charges, rates and tariffs charged by the providers of goods and services
  8. Determining the consumer and investor interests which will guide in setting minimum or maximum rates and charges or establishing the method for determining such rates and charges
  9. Collecting, compiling and analysing data on rail, maritime safety & security, ports , shipping and road services
  10. Undertaking research in the regulated sectors particularly in matters relating to the costs, charges, safety, and service standards
  11. Establishing data bank for the sub-sectors
  12. Facilitating the resolution of complaints and dispute amicably
  13. Conducting studies and research on matters relevant to the industry.