Facing severe financial crisis amid coronavirus pandemic, the Uttar Pradesh Sugar industry is looking for financial assistance. The lockdown has impacted the sugar sale, less supply of molasses and no exports. To come out of this grim situation, the industry is demanding from Uttar Pradesh Power Corporation (UPPCL) to clear its power co-generation dues of Rs 1,157 crore as on April 22 so that the sugar mills can clear their dues to farmers.
Uttar Pradesh Sugar Millers Association Secretary-general Deepak Guptara has written a letter to the UPPCL chairman Arvind Kumar stating the plight of the sugar mills and the financial crisis they are reeling under.
According to the Financial Express, he has written, “Sugar sale has gone down due to no demand. The export of sugar is at a standstill and ethanol offtake has also been lowered. The mills have the statutory liability to settle the cane dues within 14 days and the amount of cane dues payable is increasing day by day.”