Government Approves Rs 60 Crore Loan to Dairy Development Corporation for Farmer Dues
Kathmandu, Sept 5: The government has approved a loan of Rs 60 crore to the Dairy Development Corporation (DDC) to clear outstanding payments owed to dairy farmers.
During a meeting of the Council of Ministers held this evening, the proposal to provide a loan of Rs 600 million under certain conditions was approved. Agriculture and Livestock Development Minister Ramnath Adhikari had earlier assured that the remaining dues of the dairy farmers would be cleared before the Dasai festival.
The Ministry of Finance gave its approval for the conditional loan on August 17, and the proposal was then submitted to the Council of Ministers for final approval. The DDC will use this loan to pay the outstanding amount to the dairy farmers.
For the current financial year, a budget allocation of Rs 1 crore has been made under loan investment for DDC, with an additional amount now being allocated through this loan.
Minister Ramnath Adhikari had committed to resolving the payment issue when he took charge on June 31, during which dairy farmers were owed Rs 1.54 billion. Since then, over Rs 400 million has been generated from the sale of butter and powdered milk, and payments have been made to the farmers.
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