SEZ units will face new regulations
The department of commerce have started consultation on the norms of changing in order to mandate that at least 51 percent of production in the special economic zones (SEZs) should be physically exported. This move is expected to be help in adding to the inflexibility of units in some designated areas.
However the discussions have received experts and the industry is worrying that several sectors like gems and jewellery would also get adversely affected because of low-value addition, whereas others like the petroleum and information technology would receive major beneficiaries.
Senior government officials have confirmed that the stake holders were being consulted about the shifting from the current system of net foreign exchange for units in SEZs. They added that the proposal is a result of the recommendation that has been made by the Parliament’s Public Accounts Committee or PAC. An official said that no decision has been taken till now. The department of commerce yes yet to take an effective decision after the senior government officials have been consulted. The decision taken post consulting will be enacted in order to help the non flexible units that have been not productive for the past years.
Source: The Times of India
