The Sugar Cane Growers Fund (SCGF) has begun a preliminary review of the SCGF Act 1984, a law that has been in place for more than four decades.
Chief Executive Officer Raj Sharma said the review follows recommendations from the Asian Development Bank and Parliamentary Standing Committees.
“The Act was formulated in 1984, though its origins go back to 1959. In the last 41 years a lot of things have changed, and new business dynamics have emerged,” Mr Sharma said.
He explained that the review aims to modernise the legislation in line with current investment and financial service trends in the sugar industry and beyond, while ensuring SCGF remains “robust and sustainable as a trust fund and provides the benefits of such returns to the co-founders.”
“SCGF plays very pivotal role for the rural populace as a Government Statutory Authority” and will “strategically align to SCGF’s strategic intents, improve governance and accountability, address flaws or contradictions, and make it more enforceable.”
The CEO noted that SCGF has already consulted more than 200 growers and sugar organisations across all mill areas.
“Growers have appreciated the work of SCGF and supported the initiative. This is preliminary work. We will consult all stakeholders and government agencies and make a submission to the Ministry before it progresses to Cabinet,” he said.
Submissions on the review are open until August 31, 2025.