Goa's gold comes back to Indian shores
After about 44 years, about 1,800 Goan families will
get to see their family jewels. The jewellery
travelled to Portugal after the liberation struggle
and got stuck in the customs net.
After about 44 years, about 1,800 Goan families will
get to see their family jewels. The jewellery
travelled to Portugal after the liberation struggle
and got stuck in the customs net. CNBC-TV18 looks at
the how this gold was finally liberated.
This story dates back to 1961, when gold jewellery
pawned by Goans left Indian shores to Lisbon in
Portugal, after the liberation. Thirteen years back
all the gold came back but 1,800 families ran out of
luck as an amendment in the denied them access to the
family treasure. Now the finance minister has stepped
in to ensure that these families get their jewellery
back.
Finance Minister, P Chidambaram said, "When they bring
these ornaments here, they don't have to pay customs
duty. It will be very unfair of me to ask them to pay
customs duty on their own ornaments, which were taken
away forcibly to Portugal."
In 1992, PV Narasimha Rao's government negotiated the
release of this gold with Lisbon and authorised SBI to
import a total of 6,500 packets weighing 280 kgs.
Families were exempted from paying any customs duty on
this gold. About 4,700 families had paid up their
loans and reclaimed their jewellery. But five years
back, an amendment to the Customs Act robbed this
benefit from those who didn't reclaim by then. Around
1,800 families still had gold stuck in the SBI vault
in Goa.
A mix of luck and perseverance took care of the rest.
Another amendment to the Customs Act two years ago,
gave the finance ministry, legal ground to reinstate
the duty exemption. And persistent lobbying by
affected parties with local Congressmen reached
Chidambaram's ears last September. He obliged by
passing the order three days ago. State Bank of
India's officials expect only about 500 families to
turn up to claim their bit of history.
=====
Thought for Today:"Don't trust the appearances, the bragging man can be a very
poor and stupid fellow."
Gulf Goans e-Newsletter yahoogroups.com/group/gulf-goans/ Moderator Gaspar
Almeida /Presented by Uly Menezes www.goa-world.com/goa/ since 1994. Thanks
for the continued support of the www.goa-world.com/goa/ team.
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