UP govt to privatise loss making sugar mills
The Uttar Pradesh government plans to privatise government-owned sugar mills belonging to the Sugar Federation and Sugar Corporation by the next crushing season.
By PTI |
LUCKNOW: The Uttar Pradesh government plans to privatise government-owned sugar mills belonging to the Sugar Federation and Sugar Corporation by the next crushing season.
The state government has decided to privatise the sugar mills and details for the same are being worked out, a senior government official said here today.
A meeting of the core committee of secretaries for disinvestment headed by the Chief Secretary was held here last week to take stock of the situation following the recommendations by the consultative evaluation committee set up for the purpose of disinvestment, he said.
Soon after the formation of the Mayawati government, the state cabinet had decided to privatise the 61 rpt 61 sugar mills including 28 owned by the federation and 33 owned by corporation as they were incurring losses bringing a huge burden on the state exchequer to support them.
The move to privatise the sugar mills of the corporation in a phased manner is in progress and last week's meeting discussed the future of about a dozen of the mills and the manner in which to group them for privatisation, he said.
The managing directors of both the federation and corporation have been made the nodal incharges to work out the modalities and if there is no legal hassle the work would be completed before the next crushing season, he said.
The state government has decided to privatise the sugar mills and details for the same are being worked out, a senior government official said here today.
A meeting of the core committee of secretaries for disinvestment headed by the Chief Secretary was held here last week to take stock of the situation following the recommendations by the consultative evaluation committee set up for the purpose of disinvestment, he said.
Soon after the formation of the Mayawati government, the state cabinet had decided to privatise the 61 rpt 61 sugar mills including 28 owned by the federation and 33 owned by corporation as they were incurring losses bringing a huge burden on the state exchequer to support them.
The move to privatise the sugar mills of the corporation in a phased manner is in progress and last week's meeting discussed the future of about a dozen of the mills and the manner in which to group them for privatisation, he said.
The managing directors of both the federation and corporation have been made the nodal incharges to work out the modalities and if there is no legal hassle the work would be completed before the next crushing season, he said.
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