Traders of Andamans get package of Rs 79.56 cr

Port Blair, Aug 27: The Government of India, Ministry of Home Affairs, New Delhi, has announced a revival package for small traders of tsunami ravaged Andaman and Nicobar Islands to the tune from Rs 79.56 crores, Mr Manoranjan Bhakta, the only member of Parliament of these islands said.

The package constitute waiver of all commercial loans up to Rs 2 lakhs and that of interest for a period of three years on the principal amounts outstanding as on December 26,2004, the tsunami day, Mr Bhakta told.
According to the order, issued on Thursday, 2/3rd of the total value of the package will be borne by the Government of India and the remaining would be borne by the concerned financial institutions.

The package has been the result of personal intervention of Prime Minister Manmohan Singh and Union Finance Minister Pranab Mukherjee, Mr Bhakta added.

Financial experts believe that this package will benefit over 7,000 traders and businessmen engaged in trade, transport, tourism, fisheries etc and also help them in reviving their individual units and develop the overall economy of the islands.

The MP thanked the Government of India and the local administration for ensuring the sanction ordered.

Last month Mr Bhakta met the Mr Mukherjee in New Delhi and discussed with him financial relief package for the traders and businessmen of these islands.

A mega earthquake followed by tsunami had killed more than 3800 people in these islands and destroyed business and property worth Rs. 3,327 crores, according to official figures.

UNI