Union Minister of State for Cooperation, Murlidhar Mohol, chaired a meeting convened to address the challenges and issues related to the Sugar Development Fund (SDF) concerning Maharashtra’s cooperative sugar mills.
The meeting focused on reviewing various pressing matters to ensure the smooth operation and financial health of these sugar factories.
The meeting was attended by Maharashtra’s Satara-Jawali Assembly MLA Shivendra Singh Raje Bhosale, Additional Secretary Shri Pankaj Kumar Bansal, and other key officials from the ministry.
During the discussions, the participants thoroughly reviewed the status and challenges related to the SDF and explored potential solutions to address these issues effectively.
It is worth recalling that the central government has agreed to restructure outstanding loans taken from the Sugar Development Fund (SDF), providing much-needed relief to struggling cooperative sugar mills, particularly the 33 mills burdened with the highest amount of debt.
Announced on February 28, 2024, the revised guidelines offer a restructuring package for a total of Rs 1,378 crore in outstanding loans. The principal amount (Rs 566.83 crore) and interest (Rs 191.79 crore) will be rescheduled for repayment over seven years.
