‘Dues of cane farmers will be paid soon’

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first_imgUttar Pradesh Cane Development Minister Suresh Rana said on Monday that the State will ensure the entire cane arrears of around ₹10,000 crore are paid to farmers before the start of the new season from October. A proposal to provide ₹5,535 crore for the purpose of clearing cane dues of both cooperative and private sector will be placed before the Cabinet in the coming week, he said. Sugarcane crushing season in Uttar Pradesh, the country’s leading sugar producing State, starts from October 20 and continues till November 5. “Cane arrears have come down to around ₹10,000 crore. We have kept a target to bring the dues to zero before the start of the new season from October 20,” Mr. Rana told reporters on the sidelines of 59th annual general meeting of the National Federation of Sugar Factories Ltd here. The State government will place a Cabinet proposal seeking approval of ₹5,535 crore funds, which was allocated in the State budget for sugar sector, he said. As per the proposal, Mr. Rana said the State government will provide ₹1,010 crore to cooperative mills, ₹25 crore to a state mill and ₹500 crore to private mills for direct payment of cane dues.Soft loan Another ₹4,000 crore will be made available through a soft loan to private mills for clearing cane payment. The modality of the soft loan is being worked out, he added. He did not elaborate further. Earlier speaking at the AGM, he said the State government is committed towards cane growers.last_img read more


Tag: 上海qm论坛

first_imgzoomImage Courtesy: Cosco Shipping International COSCO Shipping International (Singapore) has decided to dissolve a defunct subsidiary, namely Sanbo Shipping Limited, by deregistration.The company informed that the Hong Kong-incorporated subsidiary has been dissolved subsequent to the scrapping of the vessel owned by Sanbo.The deregistration of Sanbo “is not expected to have any material impact” on the net tangible assets and earnings per share of the company for the financial year ending December 31, 2018, COSCO Shipping International said.The company added that none of the directors or controlling shareholders of the company has any interest, direct or indirect in the deregistration of Sanbo.In its profit guidance for the first quarter of 2018, released in late April, COSCO Shipping International said that it expects to deliver a profit for the period ended March 31.The first quarter results “will show a profit as compared to the net loss recorded in the corresponding period of the previous financial year,” which would be mainly attributable to contributions from Cogent Holdings Limited and PT Ocean Global Shipping.last_img read more