Maha Govt to seek relief for sugar industry from Centre | mumbai | Hindustan Times
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Maha Govt to seek relief for sugar industry from Centre

mumbai Updated: Jun 24, 2010 21:50 IST

The Maharashtra Government has assured the sugar industry that it would approach the Union Government with a request to provide softer loans to sugar mills as a means to compensate them for the margin shortfalls they are suffering, a senior State Government Minister said.

A delegation led by the state Chief Minister, Ashok Chavan, Co-operatives Minister, Harshvardhan Patil and industry representatives would be going to Delhi soon to discuss issues confronting the sugar industry with the concerned ministries.

Chavan and other Ministers held a mandatory review meeting with sugar industry representatives late this evening before the onset of the 2010-11 season where the decision was taken.

Mills in one of India's largest sugar-growing belts have been witnessing a margin shortfall of Rs 400 per quintal this season owing to the steep fall in sugar prices.

Apart from seeking soft loans, the delegation would also discuss measures to maintain the price of sugar which has been declining of late and seek an increase in import duty on raw sugar, Patil told PTI here today.

"We will also ask the Centre to create a buffer stock of 50-million tonnes," Patil said.