Govt to provide Rs 50 million loan to import sugar

KATHMANDU, SEP 21: 

The cash-strapped National Trading Corporation Limited that had been in talks with private banks for loans to buy sugar for the festive season, will receive Rs 50 million from the government. The cabinet meeting today has decided to provide it Rs 50 million to import sugar for the festive season. The country needs about 250,000 metric tonnes of sugar every year but domestic production is about 160,000 metric tonnes. The shortfall of about 90,000 metric tonnes is managed through imports. However, the Department of Commerce and Supply Management has estimated that there will be a shortfall of about only 79,000 metric tonnes in the current fiscal year.

Source: THT