Food Management and Trading Company celebrates fourth anniversary

The Food Management and Trading Company Limited (FMTCL) celebrated its fourth anniversary today. The government-owned company was set up by merging the then Nepal Food Corporation and the National Trading Limited.

Addressing the fourth anniversary function of FMTCL, Minister for Industry, Commerce and Supplies Ramesh Rijal urged the Company to establish itself as a capable and professional institution building a market for the smooth supply of food grains as well as essential consumer goods.

According to him, the Company should have a key role for ensuring food security and sovereignty in the country.

"The Company should be focussed towards providing maximum satisfaction to farmers, consumers and customers by developing professional culture through the implementation of a novel business work plan for guaranteeing food security and food sovereignty, for controlling the price of foodstuff in the market, for maintaining price stability, for diversifying own services and business and for maintaining fiscal discipline," said Minister Rijal.

He suggested the Company to develop long-term business plan and annual action plan to that end and carry out its activities accordingly.

Company's chairperson and secretary of the Ministry of Industry, Commerce and Supplies, Madhu Kumar Marasini said although the Company has adequate physical infrastructure and resources, it has not been able to make the commensurate business earning.

"The private sector make a good earning even from small investment, but the expected results have not been seen at FMTCL despite having much land, infrastructure and human resources," he said and directed the Company to immediately forward works related to the stalled annual auditing and annual general assembly.

Stating that the Company has not been able to keep in reserve food grains and food items for ensuring the minimum food security, Secretary Marasini directed the Company management to make arrangements for purchasing paddy, rice and food grains required for this year.

Company's chief executive officer Mohan Prakash Chand reiterated that the Company is effortful in ensuring the reach of its goods and services amongst the people in every region of the country. He added that within a short time of its establishment the Company has carried out important works as trade diversification and purchasing and selling of indigenous produce, among others.

The Company has been carrying out important responsibilities like supplying food grains in the remote districts, providing appropriate price to the farmers for their produce, purchasing agricultural produce at the support price fixed by the government, making available goods and services in urban areas as well for price stability, storing the set amount of food grains and expanding the business activities for making the Company sustainable and competent.

The Company also makes home delivery of various food grains in the Kathmandu Valley through its online portal.

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