| 1 |
Government of India vide Resolution read as Ist paper, have decided to set up an Export Processing Zone at Cochin (CEPZ) with a view to promoting exports from Kerala. |
| 2 |
State Government as per G.O. read as 2nd paper, have constituted an Empowered Committee under the Chairmanship of the Chief Secretary to examine and take expeditious decision in respect of facilities to be provided to bring the Zone into being the finding solution to problems as and when they arise. |
| 3 |
As decided by the Empowered Committee a Group consisting of Commissioner & Secretary (Industries), Chairman & Managing Director, Kerala State Industrial Development Corporation, and Development Commissioner, CEPZ examined the incentives given by various State Governments in respect of the Export Processing Zones in their States and recommended a package of incentives for the industrial units to be set up in CEPZ. |
| 4 |
Government, after careful consideration of the recommendations of the Group are pleased to order that the following incentives will be made available to the units proposed to be set up in CEPZ: |
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(i) |
Subsidy on feasibility study |
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50% subsidy on the cost of feasibility studies; of the remaining 50% of the cost,; 10% will be borne by the entrepreneur and the remaining 20% given as loan. |
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(ii) |
Capital Subsidy |
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As against the 10% subsidy of fixed assets with a ceiling of Rs.10 lakhs available now in Ernakulam District subsidy of 15% subject to a ceiling of Rs.15 lakhs will be given for all types of industries. |
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(iii) |
Exemption from power cuts |
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All industrial units located in CEPZ will be exempted from power cuts. |
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(iv) |
Stamp duty and registration charges |
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Instruments relating to lease, conveyance etc. will be exempted from the payment of stamp duty and registration charges. |
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(v) |
Special concessions for Scheduled Caste and Scheduled Tribe entrepreneurs |
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(a) Promoter's contribution in respect of SC/ST entrepreneurs need be only 10%. |
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(b) Interest on term loans |
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Interest on term loans will be subsidised to the extent of 2%. |
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(c) Equity participation |
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Direct participation in share capital be State financing institutions will be accepted in cases where SC/ST entrepreneurs are unable to mobilise shares on their own from the general public. |
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(vi) |
Exemption from local taxes |
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Industries located in CEPZ will be exempted from the payment of property tax. |
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(vii) |
Industrial peace |
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In order to ensure industrial peace in CEPZ a special scheme and special machinery will be evolved. Details will be worked out by the Labour Department in consultation with the Industries Department and other organisations concerned. |
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(By order of the Governor)
Sd/
P.G. MURALIDHARAN |
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