Punjab to slash tax on molasses

Chandigarh, Apr 17 (UNI) The Punjab Government plans to slash tax on molasses from 22 per cent to 4 per cent, to bring it at par with the states of Haryana and Uttar Pradesh to ensure level playing field to the industrialists and entrepreneurs of the sugar industry in the state.

Punjab Chief Minister Parkash Singh Badal, during a meeting with the Bhartiya Kisan Union, led by its President Balbir Singh Rajewal, said that the tax regime would be set right to the advantage of local sugar industry which was already in doldrums.

He also directed the cooperative department to submit a detailed proposal to revive all the sick sugar mills in the cooperative sector and enhance the crushing capacity of the existing mills.

He also underlined the need for co-generation in these sugar mills to make them more viable and profitable and asked the cooperative department to tie-up with the Punjab Energy Development Authority in this behalf.

The Chief Minister also directed the Revenue department to ensure uncontested mutations to be done in the name of buyers or successors within one month as per the instructions already issued by the department.

UNI