Question : PERFORMANCE OF STC

(a) the extent of business done by the State Trading Corporation of India during the current financial year (2000-2001) alongwith the name of items of trade;

(b) the schemes of the State Trading Corporation regarding expansion of its market;

(c) whether STC has been continuously incurring losses;

(d) if so, the reasons therefor and the amount of money involved in litigations pertaining to recovery of dues; and

(e) the schemes of Government drawn up to promote the domestic trade and steps taken to safeguard the interest of the farmers producing cash crops?

THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY (SHRI OMAR ABDULLAH)

(a) STC expects to achieve a turnover of Rs. 1281 crore (Prov.) during the current financial year comprising exports - Rs. 743 crore, imports - Rs. 377 crore and domestic trade - Rs. 161 crore with major items traded during the year as under:-

Exports: Wheat, castor seed/oil, coffee, cashew and chemicals & drugs Imports: Edible oils, gold Domestic trade: Hydro-carbons, pulses/coarse grains and jute goods.

(b) As a result of decanalisation of all items earlier canalised through STC, the Corporation has been laying greater emphasis on developing non-canalised business of both exports and imports;

(c) & (d) No, Sir. STC has been earning a net profit after tax (PAT) ever since its inception. However, during the course of business, the Corporation, at times, has to contest a number of court/arbitration cases. The amount involved in respect of all major legal/arbitration cases filed by STC for recovery of dues is about Rs.50 crore.

(e) STC is asked to undertake market intervention operations in the domestic market also with a view to safeguard the interests of farmers producing cash crops, as and when necessary. Recently, such operations have been undertaken by the Corporation for tobacco and natural rubber.