Barge owners seek govt intervention as banks begin e-auction

As nationalised banks began e-auction of assets pledged as surety while availing loans, the Goa Barge Owners Association today requested the state government to ask the banks to be "sympathetic" towards the shipowners who had suffered on account of ban on mining.
"120 barge owners have already repaid loans running into crores of rupees, but there are 68 others who want more time to pay up," Atul Jadhav, Goa Barge Owners Association said.
The barge industry, which transports iron ore from jetties along the river to the port, had come to a standstill on account of ban on mining.
Jadhav said the mining activity has resumed, giving a ray of hope for barge owners who are reeling under debts.

The Supreme Court had banned iron ore mining industry in the state in 2012. However, the curb was lifted two and half years later with several conditions.
But barge owners had already begun selling their vessels waiting for the ban to be lifted, or due to the increasing debt, Jadhav said.

"As per our statistics 120 barges are already sold while 180 are still operating in the state's waters," he said.
The barge association leader also said that a few of the members got a rude shock as one of the nationalised banks has already started the process to auction their assets.

"We lost one of the members, Kanta Kolamkar fell ill and later died after he saw his name published in the newspaper for e-auctioning of his house. We want the state government to inform the banks to be sympathetic towards the barge owners who will gradually pay their debt," Jadhav said.
The Goa government as part of a debt relief initiative for the people dependent on mining industry had asked banks to offer one-time settlement.
For the benefit of barge owners, the state government had asked to pay 30 per cent of the loan upfront while the government would subsidise 35 per cent.