The Hindu Business Line : Plantations pin hopes on Central revival package

AN assurance by the Union Commerce Minister, Mr Kamal Nath, about evolving specific programmes to rescue and stabilise the plantation sector has gone a long way in raising the hope of industry representatives.

Though the proposal is still in the formative stage, industry insiders have already started pinning their hopes on it.

A team led by the UPASI (United Planters' Association of Southern India) President, Mr B. B. Medaiah, met Mr Kamal Nath and the Finance Minister, Mr P. Chidambaram, in Delhi recently, to apprise them about the plantation sector's woes.

Mr Medaiah said that a senior Commerce Ministry official had confirmed that the package was almost ready, and Mr Kamal Nath had reiterated that he would spare no efforts in proposing the revival package. A special coffee term loan incorporating the amounts for subsidising the accumulated interest was likely besides additional funds through special replanting and other productivity based allocations.

Mr Medaiah said that the implementation of a buy and sell put option scheme permitting growers to manage the prices in marketing their produces could be another main element in the package. .

Also, the UPASI delegation reiterated its clear opposition to any move for mandatory 100 per cent sale of all teas produced in the country through public auctions, Mr Medaiah said.