MINISTER OF STATE IN THE MINISTRY OF AGRICULTURE AND FOOD PROCESSING INDUSTRIES (SHRI TARIQ ANWAR)
(a): The main objectives for setting up of NAFED was to organize, promote and
develop marketing, processing and storage of agricultural, horticultural and forest
produce, distribution of agricultural machinery, implements and other inputs,
undertake inter-state import & export trade etc.
(b) & (c): Yes, Madam. The details of losses suffered by NAFED during the last 3 years,
are as under:-
Year loss (Rs. in crores)
2010-11 108.52
2011-12 188.42
2012-13 149.91
(d): A Committee under the Chairmanship of Shri G.C. Pati, Additional Secretary,
Department of Agriculture & Cooperation was constituted for structural and systematic
improvements in workings of NAFED. The Committee made various recommendations
like deletion of business in non-agricultural commodities in the bye-laws of NAFED,
compliance of the recommendations of Comptroller & Auditor General of India in Price
Support Operations, greater transparency in purchase and sale of commodities,
strengthening of audit process etc.
(e) & (f): On the request of NAFED, the Govt. has prepared a financial
restructuring proposal for settlement of outstanding dues of NAFED of Rs. 1832 crores
(as on 31.3.2012). The proposal seeks financial assistance for (i) interest-free
advance of Rs.590 crores (including share capital contribution of Rs.45 crores) and
(ii) Government guarantee of Rs. 450 crore, against loan