No moratorium on SEZs: Nath

New Delhi, Jan 19 (UNI) Union Commerce and Industry Minister Kamal Nath today denied there was any moratorium on approvals for new Special Economic Zones (SEZs), saying that the Government was granting "in-principle approval where land is already there".

Speaking on the sidelines of the Confederation of Indian Industry (CII) and Columbia Business School conference on "Prospects for the World Economy after the Recent U S Election", the Minister told newspersons here that a review process was on whether the land being acquired was government or private land.

"Soon after we make the review, a meeting will be held," he told reporters.

According to news reports, the Union Government had decided to put on hold the controversy-ridden SEZ proposals which had evoked strong protests from farmers in West Bengal and Punjab among others over the acquisition of their farmlands.

This followed the move to postpone the Board of Approvals (BoA), the single-window clearing agency for SEZs.

The Board is expected to resume meetings after the empowered group of ministers (EGoM) headed by Mr Pranab Mukherjee on SEZs on January 22.

So far, the Government has given clearance to 237 SEZ proposals.

The meeting of the SEZ approval committee board, which was due to be held today, was postponed without assigning any reason.

The Prime Minister has assured that within three months the Government will come out with a policy regarding compensation for farmers through either a lumpsum payment or provision for regular income over a period.

UNI