UP’s sugar mills to pay 200 crore as interest arrears

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UP’s sugar mills to pay 200 crore as interest arrears
Jayashree Bhonsle
Pune. Sugar mills of Uttar Pradesh will have to pay 200 crores as interest on the dues of sugarcane farmers. The state government has asked the sugar mills to pay interest on the outstanding amount to the sugarcane farmers.

The figures till May 23 show that sugar mills of UP have Rs 3,638 crore left over by sugarcane farmers. Sugarcane farmers were to be paid a total of Rs 25,386 crore. If we talk about the interest on the outstanding amount, then it is about Rs 230 crore.

Commissioner of Sugarcane Development and Sugar, Vipin Kumar Dwivedi said, ‘UP farmers will now get interest on arrears. So far, sugar mills have paid interest of Rs 1.75 crore. As bills are being sent, this amount will increase further. I think all the dues will be repaid in a month. Bajaj Group has the highest dues in the state. Although sources are raising doubts over the payment of interest, the industry is also not happy with the government’s decision. They believe that this will not solve the problem, rather the pressure on companies will increase further.

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