Panaji (Goa): Chief Minister Manohar Parrikar today said that the investment promotion board (IPB) has no powers to decide on the investment proposals coming in CRZ areas.

IPB had recently withdrawn in-principle permission granted to 17 investment proposals which were in the CRZ areas.

Parrikar said that the IPB had “invariably, not purposefully, without understanding Coastal Regulation Zone rule had crossed the limit and granted in principal approvals.”

“We took legal advice and we were told that as per section 8 of the Act, the areas like CRZ, other than the shore facilities cannot be dealt by IPB,” he said justifying the board’s decision to withdraw the permissions.

Team TNV