Himal Press 
KATHMANDU: A task force has recommended the government to allow Shree Ram Sugar Mills to sell some of its land to bring the sugar mill back into operation.
The sugar mill, which was established in 1992, ceased operations in 2020.
The task force led by Kiran Kumar Sah, chairperson of the Women and Social Affairs Committee of the House of Representatives, has recommended to the government to allow the company to sell some of its land for settling its loans and repairing equipment on condition that its production is not affected.
The task force submitted its report to the Minister for Industry, Commerce and Supplies, Damodar Bhandari, on Friday.
“As per the Land Related Act 2021, Industrial Enterprises Act 2019, Ordinance to Amend Some Nepal Acts Relating to Investment Facilitation 2024, the company will identify an appropriate method to utilize its land and move forward with necessary works to operate the industry,” Sah said. “Since the industry has not been operational for the past four years and the investors have been unable to make further investments or repay loans, the task force has decided to recommend it for ‘sick industry’ status.”
The sugar mill’s equipment and land are mortgaged with Nepal Bank Limited for a loan of around Rs 310 million (including interest). Since the bank has initiated the auction process, the task force has suggested facilitating the necessary procedures.
