Two sugar mills in lower Sindh, namely Bawany Sugar Mills, in Talhar, and Al-Asif Sugar Mills, in Mirpur Sakro, have been given on lease to Dewan Sugar Mills for two years. The agreement envisages that Dewan Sugar Mills will supply sugarcane to these mills while their products--sugar and molasses--will be lifted by Dewan Sugar Mills.
This arrangement has been reported in a notice to Karachi Stock Exchange. The conversion cost, however, has not been stated.
It is reported that both mills had been running in loss. There are some liabilities outstanding against these mills and it is not known how these would be met.
Comments
Comments are closed.