The Hindu Business Line : AP provides Rs 25 cr to 5 co-op sugar units

The Government has also approved a subsidy of Rs 1.41 crore to 92 powerloom units located in Nalgonda district as investments subsidy under the Target 2000 scheme as a special case.

HYDERABAD, April 16

THE State Government has approved a financial assistance of Rs 25 crore to support five co-operative sugar factories and thereby enable them to meet the working capital requirements by extending Government guarantee to the Andhra Pradesh Cooperative Bank (Apcob) loan.

The State Information Minister, Mr S. Chandra Mohan Reddy, while briefing newspersons here after the Cabinet meeting on Wednesday, said Chodavaram co-operative sugar factory, Etikoppaka, Thandava, West Godavari and Sri Vijayarama Gajapathi sugar units will get Rs 5 crore each towards their working capital requirement.

Alongside this, the Cabinet approved conversion of the loan amount into capital of Rs 138.11 crore extended to Andhra Pradesh State Police Housing Corporation Ltd, during the 1971-72 to 1993-94.

In another development, the Government decided to amend the Registration Act wherein it is proposed to make all memorandums of understanding relating to deposit of loans or advances of amounts due for a sum of Rs 50,000 and above shall be compulsorily registerable.

The objective of the amendment was to curb frauds and protect the interest of the public, Mr Reddy explained.

The Government has also approved a subsidy of Rs 1.41 crore to 92 powerloom units located in Nalgonda district as investments subsidy under the Target 2000 scheme as a special case keeping in view the crisis in the powerloom industry.

Other decisions include amendment to the Indian Stamp Act and the Registration Act; the Government guarantee of Rs 56.70 crore to the AP SC Cooperative Finance Corporation; 24-acre site for Deccan Cements for construction of cement grinding unit in Bhavanipuram, Nalgonda; 24 acres to Gurudakhshina Foundation for the construction of a 100-bed nature cure hospital; and 7 acres allotted for Jeeyar Educational Trust for establishing an Institute of Vedic Research and Studies.

With regard to the ongoing drought mitigation exercise, Mr Reddy said that another 5 lakh tonnes out of 15 lakh tonnes provided by the Union Government would be released to take up food for work programme.

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