Gandhidham Traders oppose mortgage fee by Kandla Port

Gandhidam, Feb 22 (UNI) Gandhidham Chamber of Commerce and Industry has strongly opposed the levy of mortgage fees by the Kandla Port Trust Authorities for issuance of NOC to lessees to avail financial assistance from banks against mortgage of leasehold plots to construct residential / commercial buildings.

In a memorandum to Union Ministry of Shipping, the Chamber has demanded the withdrawal of mortgage fees being levied by the Port Administration for issuance of ''No Objection Certificate''.

In the wake of luckwarm response from the Union Ministry, ''We, therefore, had no choice but to reluctantly start agitation in protest of the mortgage fees on the township land'' said Anil Jain, Vice President of GCCI, Gandhidham said in a statement.

Kandla Port Trust used to charge a paltry sum of Rs.100 irrespective of loan amount, but the same is enhanced unreasonably and unlawfully effective in 2004 and further revised upwards from March, 2006.

The exorbitant mortgage fee has hampered the industrialization process in the region. While Government has on one hand offered incentives to industrialists / entrepreneurs to set up their units in Kutch, the mortgage fees has made a negative impact on the growth of the region, the Chamber said.

''If the industrialists have to part with sizable sum for such administrative work only, the very spirit of incentives allowed by the Government is defeated.'' Mr Jain said.

The Kutch District as well as Gandhidham - Kandla complex have been the victims of wrath of nature and people have so far not come out of trauma of killer earthquake of 2001. The mortgage fees has proved to be detrimental to the commerce and industry interests.

The region produces about 70 percent of the total requirement of edible and industrial salt for the country and these salt-manufacturing pans of Kandla have also been covered under the scope of enhanced mortgage fees.

As per the Port order, the mortgage fee is computed one percent of the loan amount upto Rs one crore. It also stipulates the percentage for higher amount of loan.

UNI