margao the margao municipal council mmc has decided to hike rentals of municipal shops in the city based on the revised rates with retrospective effect from 1997 with nearly 650 shops in both the new market and gandhi market the hike in rentals is expected to boost the civic bodys cash reserves the proposal was discussed at a meeting held by mmc chief officer j b bhingui with the new market traders association on friday with a view to discuss various issues though a final decision is yet to be taken over the issue bhingui told mediapersons after the meeting that the mmc will implement the revised rates soon bhingui said that the revised rates had come into effect from the year 1997 but the traders were continuing to pay their rents as per the old rates despite notices and reminders by the mmc as per the revised rates the rents of the shops will be calculated at 12 per sqm and a 10 hike will be imposed annually the traders will be allowed to pay their arrears in installments bhingui said responding to questions posed by the traders over the status of the proposed construction of an overhead water tank at the old fish market area the tank is intended to serve as a dedicated source of water supply to the fire hydrants in the city bhingui directed the pwd officers present at the meeting to expedite the work it is learnt that the single tender received by the pwd for the work had bid almost 85 higher than the estimated cost and thus the work got mired in procedural tangle bhingui also directed the municipals market inspectors to act tough against traders encroaching upon public space and footpaths issues pertaining to parking electrification and garbage clearance were also discussed at the meeting