Centre to consider lifting ban on sugar futures : Pawar

August 19th, 2010 - 2:27 pm ICT by ANI  

New Delhi, Aug 19 (ANI): Union Agriculture Minister Sharad Pawar on Thursday said the Central Government will consider lifting the ban on sugar futures trading in the first week of September, after assessing its production situation.

The government had banned the trading in sugar futures in May 2009 and the suspension is valid till September 2010.

“I will get to know the sugar production situation in September. I will take a view on it (lifting ban on sugar futures) in the first week of September,” said Pawar in reply to a question whether the Centre will consider removing ban on sugar futures in view of sharp.

Pawar has also responded to the Supreme Court’s recommendations of distribution of food grains to the hungry poor of the country instead of allowing it to rot in Food Corporation of India (FCI) godowns.

“It’s not possible to implement the Supreme Court’s order,” said Pawar.

Earlier on August 13, a bench comprising Justices Dalveer Bhandari and Deepak Verma told Additional Solicitor General Mohan Parasaran appearing for the Central Government to give the food grans to the poor, instead of allowing it to rot.

The apex court asked the Centre to ensure construction of a big godown in each State, besides separate godowns in different districts and divisions within the States and expedite the computerisation process of Public Distribution System (PDS) system to check pilferage and corruption.

The measures suggested by the apex court in an order included increase in the quantum of food supply to the population Below Poverty Line (BPL), opening fair price shops on all 30 days a month and distribute foodgrain to the deserving population at a very low cost or no cost. (ANI)

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