Food Management and Trading Company celebrates fourth anniversary
KATHMANDU, AUGUST 13 : The Food Management and Trading Company Limited (FMTCL) celebrated its fourth anniversary today. The government-owned company was established through the merger of the former Nepal Food Corporation and the National Trading Limited.
During the fourth-anniversary event of FMTCL, Minister for Industry, Commerce, and Supplies Ramesh Rijal emphasized the importance of the Company becoming a capable and professional institution that fosters a market for the seamless supply of food grains and essential consumer goods. He highlighted the pivotal role the Company should play in ensuring food security and sovereignty in the country.
Minister Rijal stated, "The Company should focus on providing maximum satisfaction to farmers, consumers, and customers by cultivating a professional culture through the implementation of an innovative business plan. This plan should ensure food security and sovereignty, control foodstuff prices in the market, maintain price stability, diversify services and business, and uphold fiscal discipline."
He advised the Company to develop both a long-term business plan and an annual action plan to achieve these goals and to execute its activities accordingly.
Madhu Kumar Marasini, Company Chairperson and Secretary of the Ministry of Industry, Commerce, and Supplies, acknowledged that despite possessing sufficient physical infrastructure and resources, FMTCL has not been able to generate commensurate business earnings. He emphasized the need for the Company to move forward with stalled annual auditing and the annual general assembly promptly.
Secretary Marasini also directed the Company management to take steps to purchase paddy, rice, and food grains required for the current year, as the Company has not been able to maintain sufficient reserves for ensuring minimum food security.
CEO Mohan Prakash Chand reaffirmed the Company's commitment to ensuring the accessibility of its goods and services across every region of the country. He highlighted the significant achievements the Company has accomplished since its establishment, such as trade diversification and buying and selling indigenous produce.
FMTCL holds crucial responsibilities, including supplying food grains to remote districts, providing fair prices to farmers for their produce, purchasing agricultural items at government-set support prices, offering goods and services in urban areas to stabilize prices, maintaining a set quantity of food grains, and expanding business activities to ensure the Company's sustainability and competitiveness.
Additionally, the Company facilitates home delivery of various food grains within the Kathmandu Valley through its online portal.
