Big relief for units in the government-owned special economic zones (SEZs) in COVID-19 pandemic. Seven government-owned SEZs located in Kandla, Chennai, Falta, Cochin, Noida, Santacruz and Visakhapatnam took this big step.
Ministry of Commerce & Industry in its circular dated 11th May, 2020 said that:
- There will be “no increase in lease rent of the SEZ units for FY 2020-21”
- Payment of Lease Rent of first quarter to be deferred up to 31st July, 2020 for all SEZ Units and such a deferment will not invite any interest.
Further, it asked 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 jurisdictional zones.
Please access the circular here circular dated 11th May, 2020 on lease-rent-issue