The chances of the revival of Nafed have brightened up with the NDA government taking over it. The new dispensation has evinced interest in its resuscitation if sources are to be believed.
Talking to Indian Cooperative the outgoing Chairman of NAFED Bijender Singh said the gaint agri-cooperative is making all-out efforts to save itself.
The new mood is also due to banks’ changed attitude. Some of the banks have agreed to be lenient about the payment. Some have even said they are ready to forgo 40 per cent of loans. In other words, a loan of Rs 2000 could be settled by Rs 1200 crore.
Also, Nafed is selling off its assets to make up for the banks’ liabilities. It has already sold one of its houses in a posh neighbourhood in Delhi. Talks to sell its prime property measuring 4-5 acres on Lawrance Road in Delhi are also in an advanced stage. It is expected to fetch Rs 700 crores.
Even its headquarters at Ashram Chowk – a prime location in the city is being sold out. It is expected to fetch another 100-150 crores taking the whole amount close to the target. With the government help of another Rs 500 -700 crores , the Nafed would safely get out of the woods, said sources privy to the deals.
Freed of all corruption charges in the wake of the Appellate Authority’s judgment, an emboldened Chairman said the goal is reachable; we are trying our best to save the institution and save the future of thousands of employees working with the Nafed.
I have no personal ambition, I cannot be the Chairman for the third term but I wish the agri cooperative federation had survived anyhow, Mr Singh said.
The Nafed goes to the polls on June 30.
DEAR AJAY…
IT IS THESE KIND OF INSIGHTS MAKES ME INSPIRING TO BE GOOD COOPERATOR WITH THE HELP OF YOUR PORTAL…TO LEARN,TO KNOW,TO PLAN,TO EXECUTE IDEAS….
WONDERFULLY WRITTEN…
THANKS AND CONTINUE TO INFORM AND EDUCATE US….
RAMACHANDRAN
COIMBATORE
TAMILNADU