Indian Sugar Mills Association (ISMA) held its 78th Annual General Meet on Thursday here in the city.

The meet was attended by Minister of State (Independent Charge)  K V Thomas and Sectretary, Sudhir Kumar along with esteemed representatives of ISMA. Gautam Goel, President, ISMA started the AGM by appreciating the huge efforts made by the food ministry under the dynamic leadership of K V Thomas. Goel, highlighted the big steps such as adopting quarterly release mechanism, which has given more flexibility and scope of better cash flow planning to the industry. He further added that steps such as restricting the levy sugar obligations on sugar, supporting ISMA’s cause to use alternative packing material for packing sugar, suggested decontrolling of the sugar industry by the Rangarajan Committee gives the sugar industry a huge boost.

Goel also said that the industry completely agrees with the Rangarajan Committee recommendations that regulated release mechanism and levy sugar supplies by sugar mills should be removed with immediate effect as it would benefit both the sugar mills and the sugar producing farmers and with further lead to investment. He also highlighted the after the permitting the export of sugar, the sugar industry has exported 38 lakh tonnes of sugar during the season. ISMA has also become the first industry to do satellite mapping of all sugar cane mills in India.

K V Thomas in his speech at the AGM congratulated the sugar industry for ensuring continous supply of sugar at stable prices during the last year. He further added that the ministry is taking the Rangarajan Committee recommendations very seriously and that decision with regards to the suggestions made in the report will be made soon. 'I can assure you that the Department of Food and Public Distribution has initiated action on the report of the Committee and is in the process of completing consultations with the state governments and other departments. You will appreciate that the decisions have to be well considered and in the long-term interest of all stake holders’ the minister assured.