'Commerce Ministry Working Out Policy Initiatives To Revitalise Sezs'

NEW DELHI: The Commerce Ministry is working out policy initiatives to revitalise the special economic zones (SEZs), Commerce Secretary Rita Teaotia today said.

"What we are doing today is really to see if we can emerge with some clear cut policy directions which we intend to place before the government for a decision. So this is really a firming up of some of the issues," Teaotia told reporters here.

The secretary today met several representatives of SEZs to discuss problems being faced by them.

When asked about the meeting, she said: "meeting with SEZ is a continuous exercise to try and identify what are the issues, what could be a way forward for the troubled situation of some of the SEZ units".

The government should not withdraw any tax incentives from special economic zones as it might adversely impact exports and job creation, EPCES, a trade promotion body, today said.

Export Promotion Council for EOUs and SEZs (EPCES) said that imposition of Minimum Alternate Tax (MAT) has adversely impacted the growth of SEZs.

During April-September this fiscal, exports from these zones stood at Rs 2.21 lakh crore as against Rs 4.63 lakh crore in 2014-15.

During the first half of this fiscal, these zones generated jobs for 15.44 lakh people.