Lok Sabha takes up bill to amend warehousing act

Posted on 19th Mar 2015 11:28 am by mohit kumar

New Delhi, March 18 (IANS) The Lok Sabha on Wednesday took up for discussion the warehousing corporations amendment bill which seeks to remove the provision about the central government's responsibility being a financial guarantor to the corporation.

The bill was moved for consideration and passage by Food and Consumer Affairs Minister Ramvilas Paswan. The bill seeks to amend the Warehousing Corporations Act, 1962.

According to the statement of objects and reasons of the bill, the Central Warehousing Corporation has been awarded a mini-ratna status by the department of public enterprises.

It says that one of the criteria to be a mini-ratna enterprise is that there should be no financial support from the government to the enterprise and it should not depend on any budgetary support.

The amendments aims at absolving the central government of its responsibility of being a guarantor.

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