Finance Ministry to invest Rs 600 million loan to DDC

Kathmandu, Sept 2: The Ministry of Finance has granted permission to the Ministry of Agriculture and Livestock Development to present a proposal in the cabinet to provide Rs 600 million loan to the Dairy Development Corporation (DDC).

According to the Ministry of Agriculture and Livestock Development, the loan will be provided upon certain conditions.

The DDC could draw the amount for the due payment of the dairy farmers. 

The DDC has a budget allocation of Rs 10 million for this fiscal year. The additional amount of Rs 590 million will be transferred from the budget allocated to the Agriculture Ministry. Hence, the aggregate amount of Rs 600 million will be provided as a condition loan to the DDC.  

The DDC will get the amount after the approval of the cabinet. 

The farmers have been long demanding the payment of milk to DDC.

The farmers have held a meeting with Deputy Prime Minister and the Minister for Finance Bishnu Prasad Paudel, Minister for Agriculture and Livestock Development, Ramnath Adhikari, and officials of DDC with regards to the timely payment before this.