EoUs wants a pie in Rs 14,00-cr relief package
The cent per cent export-oriented units, which have suffered severely due to rupee appreciation, have appealed to the Finance Ministry to include them in the Rs 1,400-crore export relief package announced recently.
By PTI |
MUMBAI: The cent per cent export-oriented units, which have suffered severely due to rupee appreciation, have appealed to the Finance Ministry to include them in the Rs 1,400-crore export relief package announced recently.
Commerce Minister Kamal Nath and Secretary (Commerce), G K Pillai had earlier agreed that 100 per cent EoUs also suffer from the same disabilities concerning rupee appreciation, infrastructure and other issues, just as the domestic tariff area units, the Federation of Indian Export Organisations (FIEO) Chairman, Western Region Sharad Kumar Saraf told reporters here on Friday.
"Further, 100 per cent EoUs have been burdened with fringe benefit tax, service taxes and a host of other taxes in the past few years," Saraf said.
It is feared that nearly 50 per cent of EoUs are on the verge of closure due to government policies, he said.
The Confederation of Export Units, an apex organisation of 100 per cent EOUs, has asked the Government to rethink its 100 per cent EOU policy and demanded that it be renamed as Exim Scrip.
If the EoU policy has to be changed, then it will require amendments to the law but if it was renamed as Exim Scrip, then modifications can be done under the existing law, Saraf said.
Commerce Minister Kamal Nath and Secretary (Commerce), G K Pillai had earlier agreed that 100 per cent EoUs also suffer from the same disabilities concerning rupee appreciation, infrastructure and other issues, just as the domestic tariff area units, the Federation of Indian Export Organisations (FIEO) Chairman, Western Region Sharad Kumar Saraf told reporters here on Friday.
"Further, 100 per cent EoUs have been burdened with fringe benefit tax, service taxes and a host of other taxes in the past few years," Saraf said.
It is feared that nearly 50 per cent of EoUs are on the verge of closure due to government policies, he said.
The Confederation of Export Units, an apex organisation of 100 per cent EOUs, has asked the Government to rethink its 100 per cent EOU policy and demanded that it be renamed as Exim Scrip.
If the EoU policy has to be changed, then it will require amendments to the law but if it was renamed as Exim Scrip, then modifications can be done under the existing law, Saraf said.
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