Delhi: Govt grants interest relief to factories

NEW DELHI: The Aam Aadmi Party government has announced an amnesty scheme for factory owners, looking for financial relief from the government after being hit by the novel coronavirus pandemic.
Factory owners who are unable to pay lease rent, ground rent, delay in construction charges and various other charges, will now have to pay less interest on the pending dues.
The state government has reduced the interest percent on pending dues from 18% to 10%, and under the amnesty scheme announced on Saturday, factory owners will get 50% off on interests if they deposit all outstanding dues within 60 days from August 14.
They will also get an additional 30% discount on interest towards ground rent during the 45 days thereafter (of the first 60 days). The order of the amnesty scheme was issued by Delhi State Industrial and Infrastructure Development Corporation, with the move being welcomed by city-based factory owners.
"Many factory owners have outstanding payments due. The scheme will bring direct financial relief to nearly 20,000 traders in the capital," said Chamber of Trade and Industry convener Brijesh Goyal.