PANAJI: In the 385th Board Meeting, Goa Industrial Development Corporation decided to announce a ‘COVID-19 Amnesty Scheme’ to provide relief to the industries affected by the COVID-19 pandemic and other difficulties.
Under the scheme, the penal interest (simple) imposed on the industries who failed to pay the premium, interest on premium and lease rent shall be reduced to 5%. The scheme will come into force with effect from 24th June 2023 and shall be valid for 30 (thirty) days.
“The COVID19 Amnesty Scheme is a landmark initiative to provide relief to industries boost the economic growth in our state. This scheme will help us recover nearly INR 36 crores through premium, interest on premium and lease rent.
This is a win-win situation for both the government and the industry, as we aim to foster the ease of doing business and support the economic recovery. This scheme will not only generate revenue for the government, but also create employment opportunities, said Alexio Reginaldo Lourenço, Chairman of GIDC Goa who is also the MLA of Curtorim constituency.
To avail this scheme, industries should submit a written request to Goa-IDC’s Head Office or concerned Field Manager’s Office within the scheme validity period. The industries have the option to pay their dues in a single payment (or) make monthly instalments by giving postdated cheques in favour of Goa Industrial Development Corporation.
The maximum number of instalments permissible is 8 (eight) to enable Goa-IDC to recover all the pending dues before the end of the current financial year.
If the industries fail to avail the scheme within 30 (thirty) days, the regular penal interest shall be imposed. Further, legal action against the defaulters shall be initiated for recovery of the pending dues after the expiry of the scheme. Goa-IDC shall not announce any further amnesty schemes and appeals to all the industries to clear the dues.
This scheme is one of the strategies to enable the non-functional units restart their operations by clearing the pending dues. Once the dues are cleared, units have options to either continue with their original activity (or) take up a new industrial activity (or) transfer the unit to a prospective entrepreneur. This is expected to generate employment opportunities and boost the economic activity.
To ensure the success of the scheme, Goa-IDC held consultative meetings with all the industry bodies in the state before formulating the scheme. Further, a coordination meeting was held on 23.6.2023 with all the field managers/area managers of Goa-IDC to ensure successful implementation of the scheme. All the industry bodies will also be roped in during the implementation stage for encouraging industries avail the benefits of the scheme.
The other important decisions taken in the Board Meeting is to keep the plot rates of industrial estates unchanged for the current financial year to support industrial growth and create employment opportunities. For financing the infrastructure upgradation in industrial estates, Goa-IDC will adopt value capture financing model wherein prime plots in certain industrial estates will be allotted through a simplified electronic auction procedure.