Mumbai: The state government is strapped with debt of over Rs 6 lakh crore has secured loans worth Rs 28 crore in two sugar factories controlled by politicians from the Congress and NCP.
The state has secured loans worth Rs 10 crore to the sugar factory cooperative Rajgad at Regency Pune is controlled by Congress MLA Sangram Thopte and other loans worth Rs 18 crore to the factory Saha Shiromo Vasantrao Kale in Pandharpur controlled by former Mla Kalyan Kale who recently switched from BJP to NCP.
The guarantee has been extended only for a period of one year.
“Pre-seasonal loan guarantee extended to consider that other factories in Pandharpur is not performing well and are at Pune is located in a fairly remote location from other factories,” said a senior official.
Last year, the MVA government has extended guarantees for loans worth Rs 516 crore to 32 sugar mills.
The government said the cooperative sugar factories find it difficult to get loans from cooperative banks after the newly enforced NABARD guidelines which require the borrower to have a clean disposable resources are positive.
However, officials said only seven of 32 mills are available from the assurances given last year because the conditions are too stringent.
Rajgad factory has given security for a loan of Rs 12 crore last year.
Sugar mills take pre-seasonal loan ahead of the crusher season from October to overhaul the engine and give progress to labor to harvest and transport.
When the MVA government took over in November 2019, it canceled the collateral for the loans granted by the former government led by the BJP to cooperative sugar mills.
Sugar and politics are intertwined in Maharashtra, the sugar baron rising to become prime minister and cabinet ministers.
Some leaders of the Congress, NCP and BJP controlling the plant.
Maha Govt guarantees 29CR RS loans to 2 factories
