Cabinet approves USD 89.68 million export subsidy for sugar
Cabinet has approved an export subsidy of USD 0.15 per kg. This would enable mills to ship around six million tonnes (mt) of the sweetener in the coming season that starts from October. Subsidy is expected to cost the exchequer almost USD 89.68 million, will give an additional cash flow to the tune of around USD 2.57 billion to mills and help them clear cane dues. Subsidy will be credited to bank accounts of farmers against cane price dues and are compliant with WTO norms.
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