Latest News | Punjab Govt to Bear 70 Pc of Hike in Cane Price

Chandigarh, Nov 1 (PTI) The Punjab government on Monday said it will bear 70 per cent of the Rs 50 per quintal increase in the state agreed price (SAP) of sugarcane.

The decision came after a meeting with the representatives of private sugarmills that had refused to bear the entire burden of Rs 50 per quintal.

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Thirty per cent will be borne by the mills.

The state government had raised the SAP from Rs 310 to Rs 360 per quintal for the year 2021-22.

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Now, the private sugar mills will pay Rs 325 per quintal out of the SAP, while the remaining Rs 35 per quintal would be borne by the state government.

Chief Minister Charanjit Singh Channi, Deputy Chief Minister Sukhjinder Singh Randhawa and the state's Finance Minister Manpreet Singh Badal were present in the meeting, according to a government statement.

The chief minister ordered to get the mills ready for early start to which the mill owners agreed to commence operations at the scheduled time. HRS hrs

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)