& çâÌæÚUæð´ ·¤è ¥ôÚU Îð¹Ùæ ÁæÚUè ÚU¹ð´ ¥ÍæüÌ ¥ÂÙð ÜÿØ ÂÚU ŠØæÙ ÚU¹ð´Ð ãæÚU Ù ×æÙð´, €UØô´ç·¤ ·¤æ× ·¤ÚUÙð âð ¥æÂ·¤ô ©gðàØ ·¤è Âýæç# ãôÌè ãñ ¥õÚU ÁèßÙ ·¤æ ¹æÜèÂÙ ÎêÚU ãôÌæ ãñÐ ÖÜð ãè ÁèßÙ ×ð´ ç·¤ÌÙè Öè ·¤çÆÙæ§ü €UØô´ Ù ¥æ°, çÁ™ææâæ ¥õÚU ©ˆâæã ÕÙæ° ÚU¹ð´Ð ŠØæÙ ÚU¹ð´, ÜÿØ ã×ðàææ ¥æÂ·Ô¤ Âæâ ãôÌð ãñ´ çÁ‹ãð´ ÂæÙð ·Ô¤ çÜ° ÂýØæâ ¥æÂ ·¤Öè Öè àæéM¤ ·¤ÚU â·¤Ìð ãñ´Ð

Ministry opposes BoI nod to 16 sugar refineries

Fears market saturation with 18 lakh tonne surplus

STAR BUSINESS REPORT
Fearing a market saturation with over production, the Ministry of Industries has opposed the registration of 16 private sugar refineries with the Board of Investment (BoI).
The ministry advised the BoI to give permission to maximum three sugar refineries initially, each having an annual production capacity of one lakh tonne.
The ministry officials think if all the 16 refineries produce in full capacity, the total sugar production will be more than three times the domestic demand.
The newly registered private sector
refineries will produce sugar from imported "raw sugar" which is cheaper than refined sugar.
According to Bangladesh Sugar and Food Industries Corporation (BSFIC), the present domestic demand for sugar is 7 lakh to 8 lakh tonne while the 14 state-owned mills produce hardly 1.5 lakh to 2 lakh tonne a year.
Industries ministry officials at a recent meeting criticised the registration of so many companies and said the state-owned mills along with the private refineries would produce more than 26 lakh tonne creating a surplus of 18 lakh tonne.
The over production will create
problem in sugar marketing, a top official of BSFIC told the meeting also attended by BoI officials.
A director of BSFIC said it would not be profitable to export refined sugar as the international price of sugar is comparably lower.
The meeting recommended permitting maximum three refineries to start production and involving industries ministry in the registration process.
The BoI should fix a deadline for the companies to start production and their registration may be cancelled if they fail to meet the deadline, the meeting suggested.
At the same time, the meeting
observed, BoI should take steps to protect the investors and prevent any further 'unprofitable investment' in the sector.
Sugar refinery is a prospective industry that can boost economy by creating employment and raising revenue but the infant industry needs proper guidance and balanced action from the government, the meeting was told.
The BoI granted permission to the 16 refineries aiming to meet the huge deficit of sugar and reduce import. The country has to import about 4 lakh tonne sugar annually while the rest of the demand is met by smuggled sugar.