Comments
Some 189 sugar mills that are crushing sugarcane in the current sugar season to September 2023 have paid 82 per cent of the fair and remunerative price (FRP) to farmers.
Data released by the Maharashtra Sugar Commissioner office show that these mills have crushed 236.69 lakh tonnes (lt) sugarcane by December 19 and owe FRP of ₹7,407.20 crore. Of this, ₹6,075.23 crore has been paid to farmers.
Of the operational mills, 69 mills have paid 100 per cent FRP, while 21 mills have paid FRP between 80 and 99 per cent. About 120 factories are yet to pay FRP dues.
Sugar Commissioner Shekhar Gaikwad, in a letter to Chief Director (Sugar), Ministry of Consumer Affairs, Food and Pubic Distribution, said there are mills which show FRP dues but most of these mills have been sold under the Insolvency and Bankruptcy Code 2016 and under the Securitization and Reconstruction of Financial Assets and Enforcement Act of Security Interest Act , 2002. “An FRP dues in such cases get wiped out,” Gaikwad added. These arrears amount to ₹307 crore.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.