TS govt to take over Nizam sugar unit

nizam sugarTS government has decided to take over the Nizam sugar factory. Under supervision of Chief Secretary Rajiv Sharma a panel with IAS officers was formed which is expected to give a report in three months. Government also decided to pay 51 percent quota of Delta paper mills after evaluating .. the value of Nizam sugar factory. In case the delta paper mills did not agree, it was decided to bring in a special act. It was also decided to handover Nizam sugar factory to cooperative unions. On August 28, 2002 the then government sold 51 percent shares in the Nizam sugar factory to the Delta paper mills. With this an agreement was reached between the delta paper mills and Nizam sugar factory.

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 According to this pact, the delta paper mills also bought Moam boazpalli unit in Medak district and in Metpalli in Karimnagar district, Bodhan sugar factory and distilleries shares in Nizambad district. Nizam sugar factory was privatised 11 years ago. It was always in losses except for three years. Kiran kumar Reddy government planned to take over Nizam sugar factory. A ministers’ panel was also appointed to study the possibilities to take over.  But they could not decide to take over.  A committee was formed to occupy the Nizam sugar factory. Its chairman is chief secretary. Committee members are special secretary, finance,  principal secretary, agriculture and cooperatives,  principal secretary, legal and an expert. Principal Secretary of Industries, commerce will be the convenor. After united AP State bifurcation, factories were in heavy losses. There were no funds for paying farmers’ dues and staff salaries.  That was the situation. Therefore the cm had begun plans to take over the said factory.

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