Sugar industry urges govt to buyout 10% of its production
Updated: May 11, 2015 05:29:41pm
New Delhi, May 11 (KNN) Representatives from the cash starved sugar industry, who met Prime Minister Narendra Modi today after the arrears to cane growers touched a record high at Rs 21,00 crore, have urged the government to buy out 10 per cent of its production.
A delegation led by former Agriculture Minister Sharad Pawar, comprising of MPs and representatives of cooperative sugar industry and Indian Sugar Mills Association (ISMA) met Modi to press for the demand.
The representatives also urged for financial restructuring of loans to the sugar mills.
Post meeting, Pawar said that, "He had realised the situation was serious. He was anxious to resolve the issue.”
Pawar suggested that government give loan to an agency like FCI which can buy the sugar from the mills and the interest burden could be borne by Sugar Development Fund. (KNN Bureau)
A delegation led by former Agriculture Minister Sharad Pawar, comprising of MPs and representatives of cooperative sugar industry and Indian Sugar Mills Association (ISMA) met Modi to press for the demand.
The representatives also urged for financial restructuring of loans to the sugar mills.
Post meeting, Pawar said that, "He had realised the situation was serious. He was anxious to resolve the issue.”
Pawar suggested that government give loan to an agency like FCI which can buy the sugar from the mills and the interest burden could be borne by Sugar Development Fund. (KNN Bureau)
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