UP mulling privatisation of loss making sugarmills

Lucknow, Apr 1 (UNI) Uttar Pradesh government is mulling the privatisation of loss making state sugarmills.

Addressing a news conference here today, UP Development Council (UPDC) chairperson Amar Singh said there were 24 sugarmills in UP with accumulated lossess of Rs 1,000 crore.

''The only way to facilitate a turnaround for these units is privatisation,'' he maintained.

The Rajya Sabha MP claimed that a committee headed by Arun Shourie had also recommended privatisation of the loss making mills.

Commenting on the general business environment in UP, Mr Singh claimed the state was offerring several sops and facilities to industrialists willing to invest.

''However, some political parties opposed to the Samajwadi Party-led UP government have unleased a false bogie of dismal law and order situation for vested interest,'' he alleged.

The UPDC chairperson observed that any development in the country would remain a farce, if UP with about 17 crore population was neglected and lagged in progress parameters.

Earlier, Mr Singh inaugurated 'UP IT Expo Infocom 2K6' here.

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