| Font Size |
Ashok Khemka, Managing Director of Haryana Warehousing Corporation (HWC) said, “NBHC is a venture of the Financial Technologies group and has been handling commodities and providing collateralised financing along with total management of stocks.
The specifications of the agreement are being worked out but this collaboration will help us share facilities at mutually agreeable rates in the future and render audit services. It will help us migrate to a new regime under the New
Warehouse Development and Regulation Act, which is likely to be announced soon.”
Once the new act is implemented the warehouses will have to be registered with the central regulator and then trading of commodities will be possible by using the revenue receipts. The farmers will not have to physically transfer the goods from one place to another.
Meanwhile NBHC has offered to provide services such as total management of stocks, handling problem of technical preservation and maintenance of stock, pest control management, specialised audit and physical verification of stocks etc.
“Since 75 per cent of the wheat stock procured by us last year is still lying in our godowns, we expect a storage problem. NBHC can help us by making available its warehouses for handling the abundant stocks. Food Corporation of India should clear the old stock before the wheat arrivals start,” said Khemka.
Discuss this story on expressindia forums
|
|