A new shipyard building subsidy scheme is likely to be in place in the next three to four months, a senior government official said.
"The scheme is currently on the drawing board, and only after the government approves it will there be a final announcement. In all likelihood, it will take 3-4 months," Secretary (Shipping) A P V N Sarma told reporters here today.
The government had a subsidy scheme till August 2007, which entailed a 30 per cent ship building subsidy, he said, adding, "while the government has yet to take a view, most probably it will continue with the scheme."
Till-mid August 2007, the scheme offered ship builders 30 per cent extra on building ocean-going merchant vessels at least 80 metres in depth, provided they were for the domestic market.
The scheme, which was introduced in the mid-90s initially for five years, but ended in August 2007.
The shipping and finance ministries are currently in the process of discussing and resolving certain issues with relation to the scheme, he said.