You are here: Home » Economy & Policy » News
Business Standard

No increase in lease rent for SEZ units in FY21 due to coronavirus: Centre

And payment of lease rent of the first quarter is to be deferred up to July 31, 2020, for all SEZ units

Topics
SEZs | Coronavirus | Special Economic Zones

BS Web Team & Agencies 

Petrochemicals plant
"The deferment may not invite any interest thereof," the Ministry of Commerce and Industry communication said

The Centre on Monday gave interim relief to Special Economic Zone (SEZ) units from any increase in lease rent on account of Covid-19 outbreak.

As per an official communication from the Ministry of Commerce and Industry, the relief measure was instituted in consultation with the Department of Expenditure on account of the Covid-19 outbreak.

Consequently, there will not be any increase in the lease rent for the SEZ units for the FY 2020-21 and payment of lease rent of the first quarter is to be deferred up to July 31, 2020, for all SEZ units.

ALSO READ: Oil prices rise as Saudi Arabia pledges to deepen production cuts in June

"The deferment may not invite any interest thereof," the Ministry of Commerce and Industry communication said. "Accordingly, DCs (development commissioners) are requested to take necessary action on the matter. DCs are also requested to advise developers of state government/private to consider similar relief measures in their zones."

First Published: Tue, May 12 2020. 08:04 IST
RECOMMENDED FOR YOU