The Sugar Cane Growers Fund (SCGF) Act 1984 is undergoing a review in accordance with recommendations by the Asian Development Bank and parliamentary standing committees.
Fund CEO Raj Sharma said that in the last 41 years, much had changed with the emergence of new business dynamics.
He said the Act governing the fund was formulated in 1984, although its origin and background of enactment go back to 1959.
He noted the objective of the review was for the fund to remain a robust and sustainable trust fund and provide the benefits of such returns to the co-founders.
“In addition, SCGF can play a very pivotal role for the rural populace as a government statutory authority,” he said.
Mr Sharma said the changes would strategically align the fund’s proposed strategic intents against the backdrop of the changing environment.
He said they also want to improve governance and accountability, and improve on the flaws or contradictions to make the SCGF more enforceable.
“SCGF has consulted sugar organisations and more than 200 growers through meetings in mill areas and that the growers have appreciated the work of SCGF and support the initiative.”
Mr Sharma said after the preliminary work, they would conduct consultations with their stakeholders and government agencies and make submissions to the Sugar Ministry.
“Thereafter, it will progress to the Cabinet for an appropriate decision.”
