The Hindu Business Line : Somnath assures help to engineering exporters

, Mr Somnath Chatterjee, Speaker of Lok Sabha, in a lighter vein admitted here today that it was far easier for him to tackle the Finance Minister at the Centre than the one in the State.

"I have no control over the State Finance Minister, but, as far as the Finance Minister at the Centre is concerned, I can pull him up for breach of executive privilege on the floor of the House and put him to trouble".

Responding to pleas by the regional chairman of Engineering Export Promotion Council (EEPC) on faster refund of VAT claims by engineering exporters of the region, (claims to the tune of Rs 100 crore now pending for more than a year), Mr Chatterjee, speaking at the Annual Awards function of EEPC, ER, here today, said "I will do my best to get you back the money."

Urging exporters to rise above sectoral interests, he said "promote all our strengths in exports and help create an environment of inclusive growth for a `world class India'."

Pointing out that the emerging regional dynamism had the potential to turn the region into a veritable power-house, the Speaker said huge opportunities for investment existed in eastern India, and West Bengal in particular in sectors such as petrochemicals and iron & steel.

EEPC trophies for export excellence in different categories were handed over to the different by Mr Chatterjee, Mr Henry Jardine, US Consul General in Kolkata and Mr Simon Wilson, British Deputy High Commissioner.

VAT claims

Earlier, on the pending VAT claims front, Mr R.P.Sehgal, Regional Chairman of EEPC, said besides the overdue VAT refunds in West Bengal, an additional burden on exporters was that of interest payment to banks for commercial borrowings for effective execution of export fulfilment of contracts.

On VAT refunds, Mr Sehgal said while exporters in the northern and southern regions were regularly getting their dues refunded, engineering exporters from West Bengal have been waiting for more than a year, "even though the Chairman of the Empowered Committee on VAT is the West Bengal Finance Minister".

More Stories on : Engineering | Exports & Imports

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page