Sharad Pawar writes to PM Modi, wants urgent relief measures for crisis-hit sugar industry

Amid worsening Coronavirus crisis, NCP chief Shar Pawar has written to Prime Minister Narendra Modi urging him to anunce a bailout pack for sugar industry. Taking to Twitter on Thursday, NCP chief said that he has sent a letter from  Chairman of Maharashtra State Co-op. Sugar Factories Federation Ltd. to PM Modi and highlighted crisis that  industry is suffering.  

He said that even before lockdown industry was in crisis and n Centre has anunced important policies like MSP, Export of Sugar, Buffer Stock, etc. Listing relief measures that are required in sector amid Covid lockdown, NCP supremo also said that he is hopeful that PM will look into matter and initiate necessary relief measures to resolve crisis.

measures that he suggested are as follows:  

1. Provision of funds for clearing export incentives and buffer stock expenses pending since 2018-19 and 2019-20.
2.  Increasing MSP of Sugar ranging from Rs 3450 to Rs 3750 with gre wise increment.
3.  Provision of one-time grant of Rs 650 per tonne on aver cane crushed during last two years.
4.  Conversion of outstanding Working capital into Short term loan and rescheduling all term loans for 10 years with a moratorium of two years on lines of Mitra Committee recommendations. 
5. Treating sugar mills’ distilleries as Strategic Business Units ( SBUs) and on Stand Alone basis banks should finance Ethal Projects sanctioned under Interest Subvention Capex Scheme anunced by Central Government in 2018.

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Earlier, Pawar h also written to PM Modi, raising apprehensions on Central government's decision to establish proposed International Finance Service Centre (IFSC) authority in Gandhinagar inste of financial capital of India, Mumbai. On migrants crisis, he urged Prime Minister Narendra Modi to speak to Chief Ministers of states, who are t allowing migrants to return home.

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Maharashtra Covid update

As India's Coronavirus (COVID-19) tally soars to 78003, Maharashtra on Thursday, reported 1602 new cases and 44 deaths. While 6059 patients have recovered from Coronavirus, Maharashtra's death toll has reached 1019. state's current tally is at 27524 - with  Mumbai accounting to 16738 cases.

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