Sunday, February 25, 2007 7:09 PM
MyBangaloreProperty Services
GOVT ASKS STATUS REPORT OF 50 SEZs
Even as there is a freeze on fresh approvals and notifications of Special Economic Zones (SEZs), the commerce ministry has written to 50 developers of SEZs, which already have formal approval, to furnish details of the projects’ current status. This will result in these projects being notified, allowing the developers to begin work. Developers who have made little progress may see the approvals being cancelled. It may be recalled that the commerce ministry was planning a six-month time limit for completion of procedural formalities for the approved zones. There is no formal decision on the six-month period for notification. But the ministry has written to about 50 SEZ developers, asking them the status of the formalities.
