No money to pay interest to SEZ promoters in Goa: Minister

In a written reply, Industries Minister Vishwajit Rane said state-run Industrial Development Corporation (IDC) has been directed to workout modalities to raise funds to meet financial liabilities arising out of this settlement.

Rane was replying to a question raised by Wilfred DSa (BJP).

After intervention of the Supreme Court, the land allotted to five out of seven SEZ promoters was reverted to the state government, unlocking 24 lakh square metres of real estate.

The government, which had invited investments in SEZs, had scrapped the policy to have these exclusive industrial enclaves in 2008 after a public outcry.

Rane told the House that the Cabinet, in its meeting on July 27, 2018, had approved a proposal of Goa-IDC to take back all land allotted to seven parties for setting up SEZs and to refund the amount deposited by them along with the interest accrued thereon.

However, the industries department has no money to pay interest to these companies, the minister said.

The SEZ land was blocked for more than 10 years and its release will allow the government to allott it to needy industrial units, the minister said.