Sources said that the government held discussions with bankers to clear the dues of sugar factories as a one-time settlement and the bankers agreed to the same.
HYDERABAD : The government has released Rs 43 crore as a one-time settlement to help reopen closed sugar factories across the state.
Sources said that the government held discussions with bankers to clear the dues of sugar factories as a one-time settlement and the bankers agreed to the same. Following the agreement, the government decided to clear the dues. The government has been trying to reopen the closed sugar factories for the last four months.
The Congress government had constituted a cabinet sub-committee under the chairmanship of Industries Minister D Sridhar Babu to explore the chances to reopen the Nizam sugar factories in Bodhan and Muthyampet. The panel held a series of discussions with the bankers on the same. CM Revanth Reddy had assured that the sugar factories would be reopened by September 17.
