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Govt to abolish freeze on SEZ

06
Mar '07
Government will soon lift freeze on special economic zones (SEZs) for those developers who have formal approval of their projects, have land in possession and completed all formalities for notification.

Freeze on 60 SEZs to be notified will be lifted by empowered Group of Ministers (eGoM) on SEZs, which will meet on next week.

In this proposal, SEZ where land has been procured by developers will also be considered.

Final decision on SEZs will be made after eGoM decide on changes as per the requirement of various political parties and farmer groups.

On January 22, 2007, eGoM stopped all approvals and notification of SEZ after receiving complaints about misuse of land, forcible acquisition by states and insufficient packages.

This resulted in flow of complaints from companies, which invested huge amount of capital in machinery and manpower.

Experts believe that stopping clearance of SEZ projects, which have completed all formalities for notification, is waste of time and money.

According to sources, eGoM was waiting for new rehabilitation packages from Rural Development Ministry before changing policy of SEZ.


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