Greater integrity essential in construction and development of real estate says Union Minister Pranab Mukherjee:

The Finance Minister Shri Pranab Mukherjee has said that the inauguration of the new building of the Commisioner of Air Cargo at Chennai was the fullfillment of a long stnding and pressing need. He pointed out that the revenue collected from Chennai air cargo complex from international trade has shown an increase of 278% during the period 1997-98 to 2009-10. He also pointed out that the value of imports during the same period has gone up from 4666 crores of ruppees to 52003 crore ruppees in 2009-10.

He was inaugurating the new building of the Commisioner of Customs (Airport and Air Cargo) at Chennai today.

Shri S S Palanimanickam, Minister of State for Finance, Shri Sunil Mitra, Secretary, Revenue and Shri Dutt Majumdar, Chairman, Central Board of Exice and Customs also took part in the function.

Earlier Shri Pranab Mukherjee also inaugurated the 24th All India Builder's Convention in Chennai. He pointed out in his speech that the events of the recent past have reminded us that there is greater scope for integrity in development, construction and marketing of real estate in the country. He said that the realty sector has to be sensitive to the larger social dimensions of housing and must anchor its work in strong ethical practices.

Shri G K Vasan, Union Minister for Shipping presided over the function. In his speech, Shri Vasan said that the National Maritime Agenda 2020 envisages the augmentation of port capacity in the country to 3200 million tonnes by 2020. He said that Private Public Partnership (PPP) mode was necessary to achieve this.

A souvenir on the convention was released by the Fnanace Minister by handing ovr a copy to Shri G K Vasan.