Mumbai: Lease rentals rescheduled for industry

To begin with, all premium amounts on lease rental, which are due to be paid in March and April, have been rescheduled without any penal amount.

Sanjay JogUpdated: Saturday, April 11, 2020, 04:11 AM IST
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MIDC CEO P Anbalagan |

Mumbai: The Maharashtra Industries Department, in a serious bid to mitigate the hardship of the industry, which is struggling to cope with the nationwide lockdown, has come out with two announcements.

To begin with, all premium amounts on lease rental, which are due to be paid in March and April, have been rescheduled without any penal amount. Also, the water charges will be recovered on actual and not minimum demand.

All plots, where the development period ends in March and April, will also be given a three-month extension without any cost. Further, in view of the slowdown, the MIDC board has taken a decision not to increase the land rates up to October. Every year MIDC increases rate of lands that are to be sold or leased to the industries.

MIDC CEO P Anbalagan told FPJ, ''The Maharashtra government and the MIDC are here to assist the industry in the most difficult times, to keep the momentum going.'' He reiterated that all payment dues to MIDC will be rescheduled without any penal amount.

Further, Industries Minister Subhash Desai, during his interaction with the representatives of industries led by CII, promised to look into the industry demand for lowering or rescheduling of power and water bills.

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