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Commerce Ministry urged to improve Export Oriented Unit (EOU) scheme

  • By: Administrator
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  • Category: Exim News
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  • Date: 20 Dec 2017

NEW DELHI: Parliament's Public Accounts Committee (PAC) has asked the Commerce Ministry to undertake a comprehensive study to identify the shortcomings in the Export Oriented Unit (EOU) scheme and take remedial action in order to avoid shifting of EOUs to Special Economic Zones (SEZs).

In its report placed in both houses of Parliament, the PAC, Chaired by former Minister Mallikarjun Kharge, said that since the EOU scheme is neither able to attract entrepreneurs nor contribute to the Country's export growth, the Commerce Ministry should conduct a comprehensive study with a view to modify the scheme for make it more attractive.

"The Committee are also unhappy that their recommendation for a high-powered independent inquiry to find out elements responsible for rampant abuse of this scheme and fix responsibility of officials was completely ignored," the PAC said in its report on the action taken by the Government on recommendations related the performance of 100 per cent EOU scheme.

Source: dailyshippingtimes.com