Markfed to take loan to buy fertilizers

Agriculture Secretary B Janardhan Reddy said TS Markfed was appointed as the nodal agency for the procurement and distribution of fertilizers.

Published: 09th April 2020 10:39 AM | Last Updated: 09th April 2020 10:39 AM | A+A A-

Image used for representational purpose only. (Photo | EPS)

By Express News Service

HYDERABAD: The State government permitted the State Marketing Federation (Markfed) to raise Rs 500 crore loan for purchasing four lakh tonnes of fertilisers required for the Kharif season. The government will give counter guarantee for the loan.

Agriculture Secretary B Janardhan Reddy said TS Markfed was appointed as the nodal agency for the procurement and distribution of fertilizers. The government will reimburse the cost of incidental charges such as insurance, handling and transportation till stocks are liquidated. It also decided to protect Markfed and PACS in case of downward revision of prices.