Finally, the government has decided to pay the subsidy for ship building for which contracts has been signed by 14th August 2007. The ship building subsidy expired on 14th August 2007, but it was never extended from that date. Also, the pending subsidy bill was also not cleared for very long time.
This decision of the government to clear the outstanding subsidy should benefit ship builders including Bharti Shipyard and ABG Shipyard. The government indicated that the subsidy will be released as per the guidelines modified from time to time subject to submission of requisite documents in the prescribed format.
