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Govt decides against hiking lease rent in SEZs

In a bid to provide relief to the units in 7 the government-owned special economic zones (SEZs), who are already reeling under the pressure created by covid-19, the government said the lease rent will not be increased for 2020-21. On Monday, the Department of Commerce also clarified that payment of lease rent for the first quarter is deferred up to July 31 for all SEZ units and the deferment would not invite any interest.

This decision was taken after consulting the proposal with Department of Expenditure. DoC also urged the development commissioners of other SEZs to advise SEZ developers of state governments and privately-owned zones to consider similar relief measures. “DCs are requested to advise developers of state government/private SEZs to consider similar relief measures in their zones,” it stated.