CURATED BY – GAURAV SINGHAL | CITYCHIEFNEWS

Saharanpur, In compliance with the instructions of the government, District Magistrate Manish Bansal said that in view of the continuous development in the civil aviation sector, a policy has been formulated at the government level to encourage capital investment in relation to the establishment of Maintenance, Repair and Overhaul Hubs of aircraft in the state. Under this, investors will be provided benefits through subsidy. DM Manish Bansal said that under the conditions, 05 percent subsidy will be given on capital investment up to Rs 500 crore for setting up MRO in the state, 08 percent on capital investment of 500 to 1000 crore and 12 percent subsidy on capital investment above 1000 crore. The subsidy will be paid in equal installments in the next 5 financial years starting from the next financial year after the financial year of starting of commercial service. District Magistrate Manish Bansal said that apart from the facilities given under this policy for setting up MRO, no other facility will be payable in any other policy of the state government and no facility other than capital investment subsidy will be permissible under the proposed policy. He said that it will be mandatory for the unit setting up MRO to start commercial service within 5 years of issuance of Letter of Comfort. In case of any addition or change in the MRO policy, the Chief Minister is authorized to take a decision as per the need in future. The benefit of MRO policy in Uttar Pradesh will be allowed to only those units whose application forms will be received in the Civil Aviation Department for setting up MRO under the policy by 31 December 2026.