CCEA approve moratorium to Cochin Port Authority on repayment of Central government loans

Cabinet Committee on Economic Affairs has approved a moratorium to Cochin Port Authority on repayment of Central government loans amounting to over 446 crore rupees for a period of three years.

The Cabinet Committee on Economic Affairs has approved a moratorium for Cochin Port Authority on repayment of Central government loans amounting to over 446 crore rupees for a period of three years. The moratorium has been approved for 2020-21,



2021-22 and 2022-23.

The amount was to be repaid in ten instalments commencing from 2018-19.  However, Cochin Port Authority could pay the instalments of 2018-19 and 2019-20 only. From 2020-21, the traffic was badly impacted due to the Covid-19 pandemic which adversely impacted the cash inflow. As a result, Cochin Port could not pay the instalments of 2020-21 and 2021-22.