Andhra Pradesh Chief Minister Nara Chandrababu Naidu met AP deputy speaker Mandali Buddha Prasad, Penamaluru MLA Bode Prasad, KCP chief executive officer G. Venkateswara Rao here on Tuesday.
KCP Sugar Factory representatives from Vuyyuru conveyed to the Chief Minister that the sugar factories in the state are on the verge of closing due to high Value Added Tax (VAT) on Sugar production, levy of export fee on molasses, and ban on inter-state export of alcohol for distillation.
KCP Sugars CEO Vekateswara Rao said that the price of cogeneration of sugarcane is low Rs3-3.5 per unit and added that other states have the price set at Rs 5-6 per unit. In the meeting, KCP Sugars management said that it will take the responsibility in setting up 500 solar pump sets in Krishna district.
The Chief Minister assured the team that the government would look into solving their problems and make their businesses profitable.
This apart, the team also donated Rs 1 crore for AP’s capital development. The contribution for the capital development fund came from sugarcane farmers, factory workers and the management of KCP Sugar. (INN)