TEAM HERALD
PANJIM: Mining machinery owners, who had availed of bank loans, have applied for the State government’s One Time Settlement (OTS) scheme for a total loan exposure of Rs 580 crore, which is the principal amount. The Economic Development Corporation, the nodal agency for implementation of the OTS scheme, has so far received 750 applications under the scheme.
Banks have already agreed to waive off the interest component, while granting 30 to 40 percent waiver on the principal amount.
Over the last 29 months, many borrowers have settled their loan liability of around Rs 833 crore.
According to available data, the total loan liability of mining dependents, including truck and tipper owners, barge owners and machinery operators, was nearly Rs 1413 crore in September 2012, when the mining operations were suspended after Justice M B Shah Commission exposed massive illegalities and put the scam at Rs 35,000 crore. There are total 12,000 truck, barge and machinery loan borrowers in the State.
The total loan exposure of barge owners for the financial year 2012-13, was around Rs 363 crore, which came down to Rs 310 crore in 2013-14 and still further to Rs 254 crore during the current financial year 2014-15. The same amount would now be settled through the OTS. Government records show that of the total 360 barges, around 60 barges have been sold, while another 50 have been sold as scrap. Presently only 131 barges are registered with the govt.
“We were left with no other option but to sell our barges and pay the loan amount. Banks were issuing notices and we were helpless,” All Goa Barge Owners Association president Atul Jadav lamented.
As far as the trucks, tippers and machinery owners are concerned, their total loan liability was around Rs 1050 crore in 2012-13, which came down substantially in 2013-14 through their payment of Rs 680 crore to banks, leaving balance of Rs 370 crore.
At present the loan liability is of Rs 326 crore. During the mining ban period thousands of trucks and tippers were sold, and others were taken out of State to seek alternative business opportunities.
“This is a fact. After waiting for a year or so, for resumption of mining, some opted out of the State for business, while others sold their trucks to repay loans. Those who had more than two trucks sold their vehicles,” North Goa Truck Owners Association (NGTOA) president Nilkhant Gawas disclosed.
