Shree Ram Sugar Mills starts clearing dues
KATHMANDU, DECEMBER 18
- Rs 319.1m deposited
- Rs 77.3m transferred to farmers’ accounts
Shree Ram Sugar Mills has started transferring money to the bank accounts of farmers that it owes money to. After the government decided to take legal action against sugar mills, Shree Ram Sugar Mills, that has the highest dues, has started depositing money in the farmers’ bank accounts.
The company has deposited a total of Rs 319.1 million in an account at Rastriya Banijya Bank. Of this, Rs 77.3 million has been transferred to the accounts of farmers. On Wednesday, farmers from Rautahat had filed a fraud case at Rautahat District Police Office against Shree Ram Sugar Mills for not paying their dues.
The company also issued a statement today, apologising for not being able to pay farmers in time.
It has also stated that it was unable to pay the farmers as the mill had been facing losses for long. Earlier, it had made a commitment to clear the due payments by selling its property.
Meanwhile, Shashi Kant Agrawal, president of Nepal Sugar Industrialists Association, had informed the parliamentary committee yesterday that mills would gradually start paying money to farmers.
Farmers have to recover Rs 520 million from sugar mills.
Apart from Shree Ram Mills, Indira Sugar Mill owes farmers Rs 47 million, Lumbini Sugar Mill Rs 84 million, and Annapurna Sugar Mill Rs 170 million, according to the government data.