Sugar sector to discuss bailout package

Pune: Sugar sector in Maharashtra is in deep crisis, due to which many sugar bodies from the state are seeking assistance from the government. State’s sugar industry has sought a bailout package from the state government on the lines of the one offered by the Uttar Pradesh government.

According to the report, Deputy chief minister Ajit Pawar will hold a meeting with NCP chief Sharad Pawar, NABARD chairman, chairman of the board of administrators of MSC Bank and other top officials of the sugar sector today in Mumbai to discuss several important issues. Here, crucial issues affecting the sugar industry could be discussed.

“Sugar sector is passing through financial stress. Several issues related to the sugar sector including financial issues will be taken up in the meeting. Uttar Pradesh has received a Rs 1,100-crore package from the government and we are seeking a package on the same lines.,” said Sanjay Khatal, MD, Maharashtra State Cooperative Sugar Factories Federation.

The less availability of sugarcane and cane harvesters have affected the crushing season and it is expected that most of the mills will finish crushing by January end this year. Crushing season in Maharashtra commenced late this year. Sugar mills in Maharashtra officially kick-started sugarcane crushing season on November 22 after they got permission from state Governor BS Koshyari in the absence of a functional state government. Sugar production in Maharashtra is down in the season 2019-2020 as the state had been gripped with drought and flood.

 To Listen to this News click on the play button.


Please enter your comment!
Please enter your name here