Against total dues of over Rs 354 billion, the net outstanding of all UP sugar mills currently stands at about Rs 95 billion, of which private mills have been bogged down by payables of Rs 86.83 billion. The remaining portion of Rs 8.87 billion is owed by the 24 cooperative sector units in the state.
“We have set the deadline of November 30 for mills to settle arrears. The next crushing season would also start by the end of October,” Adityanath said, addressing the media in Lucknow after the state cabinet meeting. He mentioned the sugarcane area had increased in the state and recovery had also improved significantly ahead of the next season.
In the recently passed supplementary budget, the state government had proposed to advance Rs 40 billion as soft loan to private mills to pay farmers. “However, the soft loan would be offered only to those private mills whose payment ratio is more than 30 per cent for the last crushing season,” he announced.
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