Team Herald
VASCO: The Goa Barge Owners’ Association has demanded that the government extend the One Time Settlement (OTS) scheme by six months so that the barge owners could clear their OTS proposals.
GBOA has said that the OTS scheme gave “breathing time” to the barge owners, but it was only due to the demand of upfront money by several banks that most barge owners could not settle their loans. In view of this, GBOA has urged the government to convene a meeting of creditors, borrowers and government officials to clear all hurdles being faced by the barge owners while availing the scheme, which lapses on March 31.
“Since the loan accounts of barge owners became NPAs after the sudden mining ban, the State government came to our rescue and introduced the OTS scheme. Despite clear directions from the government, no nationalized or private banks were giving us a positive response. Many banks were not even ready to give loans to the barge owners to pay the upfront money required under the OTS scheme, and therefore, they could not avail the scheme. Around 90 percent of applications have remained pending,” said GBOA President Atul Jadhav at a press conference in Vasco on Wednesday.
He continued, “We demand that the government extend the scheme by six months, i.e. until September 30, to ensure that all OTS proposals are sanctioned by the screening committee, the liability of each barge owner can be established, and the barge owners get time to arrange for money by selling or scrapping their barges or obtaining loans from private financers.”
GBOA Vice President Raymond Desa stated, “Not a single barge owner was a defaulter when the export was going on. Barge owners have cleared their bank loans to the extent of Rs 200 crore by selling their barges or liquid assets, which proves their bona fides. Further, the barge owners have submitted a proposal before the Inland Waterways Authority of India (IWAI), under which the Central government will give financial assistance to them, and then such issues will be resolved. But for that we need more time.”
GBOA member Uday Naik stated, “The government has to consider that barges are the lifeline of export; millions of tonnes of iron ore have been exported, fetching cores of rupees in revenue to the Central and State exchequer. The barge owners have paid substantial taxes to the government and generated employment. Considering this fact and knowing that these barges are required for export, the government must extend the OTS scheme by six months.”
He added, “If the scheme is not extended, banks will displace the barge owner from their dwellings and attach their barges, and consequently, the ongoing ore export will be jeopardized.”
