Mormugao civic body offers OTS to close rent dues with fuel company

Vasco: The Mormugao Municipal Council (MMC) held a round of discussion over the one-time settlement (OTS) of long-pending dues towards lease rent of the municipal property occupied by a petroleum company in the heart of the town.
The company has lease rent pending from May 5, 1997 to June 2022, to the tune of Rs 32 crore which is payable to the MMC.
It was brought to the notice of the council that the principal amount stands at Rs 13 crore while the GST component stands at Rs 2.3 crore, and the interest works out to Rs 17 crore.
A meeting was also held with chief minister Pramod Sawant to discuss the outstanding amount payable to MMC.
The meeting was attended by Vasco MLA Krishna Salkar and the terminal manager of the petroleum company.
Sawant worked out the amount payable to MMC and decided to close the issue by opting for OTS.
It was also decided that interest payable by the petroleum company will be waived off.
As per MMC sources, the lease of the petroleum company shall be treated closed as of June 30, 2022, and that the land needs to be surrendered to the municipal authority.
The company has lease rent pending from May 5, 1997, to June 2022, to the tune of Rs 32 crore which is payable to MMC. It was brought to the notice of the council that the principal amount stands at Rs 13 crore while the GST component stands at Rs 2.3 crore, and the interest works out to be Rs 17 crore