The Centre would take up fresh applications for special economic zones (SEZs) on February 8, even as more and more developers are seeking extra time to execute their projects due to slackening demand for commercial space.
“The board of approval (BoA), headed by Commerce Secretary Rahul Khullar, will consider proposals for setting up SEZs on February 8,” a government official said.
The 19-member inter-ministerial BoA would also take up other miscellaneous requests by developers, besides procedural issues, he added. Last meeting of the inter-ministerial BoA was held in December 2009.
The zeal with which companies were approaching the commerce ministry to get approvals for setting up SEZs in 2008, disappeared the following year due to the slackening demand for commercial spaces in the wake of the global credit squeeze, which led to depressed economic activities.
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