Kozhikode: The Union government plans to gradually down the shutters of the National Agricultural Cooperative Marketing Federation of India Ltd (NAFED), an apex organisation of marketing cooperatives for agricultural produce, functioning under the Ministry of Agriculture.
NAFED now functions as a nodal agency of the Centre. Owing to acute funds crunch, a total of 92 staff have been offered voluntaryretirement scheme (VRS) till March 31.
In order to ensure fair price for 29 agricultural produces, including copra, the NAFED used to procure the produces at minimum support price.
The organisation has been facing funds shortage for the last few years. The Centre offers subsidy for the loss it incurs while procuring the commodities at MSP. As per functionaries of an employees union, the NAFED has not suffered any major loss under this.
During 2003-04, the NAFED strayed away from its core objectives and entered into joint ventures with some high –level private firms and also export businesses expecting huge profit. But it proved unsuccessful and the organisation suffered a loss of around Rs 1800 crore.
Now, the debt has touched Rs 4,000 crore, including interest. NAFED had suffered the heaviest loss as the business venture it launched with a private quarry lobby on export of iron ore flopped.
As it started losing ground, the NAFED board was forced to take measures like resizing staff strength by offering VRS. Accordingly, 92 employees, including senior managers, were released in the first phase on March 31. As many as 78 employees, who applied for VRS, will be relieved in the months of April and May.
The NAFED board also enforced a 10 percent pay cut for all staff from January onwards. Moreover, the annual increment was stopped since January. Around 400 contract employees were relieved two weeks back and the staff strength cut to 400 from 520.
Meanwhile, a project was submitted by the Ministry of Agriculture to the Centre to reorganise NAFED and its functioning. But the Centre has not given its nod so far. Accordingly, the existing employees are also waiting to avail the VRS option.
When the copra prices came down in Kerala, the NAFED had provided the farmers much relief by procuring the commodity at minimum support price.
A large number of farmers across the country are also beneficiaries of the various schemes implemented by the organisation.
Given the impact the closure of NAFED could make in the lives of farmers, the farmers unions have sought the immediate intervention of the Centre in the matter.
NAFED now functions as a nodal agency of the Centre. Owing to acute funds crunch, a total of 92 staff have been offered voluntaryretirement scheme (VRS) till March 31.
In order to ensure fair price for 29 agricultural produces, including copra, the NAFED used to procure the produces at minimum support price.The organisation has been facing funds shortage for the last few years. The Centre offers subsidy for the loss it incurs while procuring the commodities at MSP. As per functionaries of an employees union, the NAFED has not suffered any major loss under this.
During 2003-04, the NAFED strayed away from its core objectives and entered into joint ventures with some high –level private firms and also export businesses expecting huge profit. But it proved unsuccessful and the organisation suffered a loss of around Rs 1800 crore.
Now, the debt has touched Rs 4,000 crore, including interest. NAFED had suffered the heaviest loss as the business venture it launched with a private quarry lobby on export of iron ore flopped.
As it started losing ground, the NAFED board was forced to take measures like resizing staff strength by offering VRS. Accordingly, 92 employees, including senior managers, were released in the first phase on March 31. As many as 78 employees, who applied for VRS, will be relieved in the months of April and May.
The NAFED board also enforced a 10 percent pay cut for all staff from January onwards. Moreover, the annual increment was stopped since January. Around 400 contract employees were relieved two weeks back and the staff strength cut to 400 from 520.
Meanwhile, a project was submitted by the Ministry of Agriculture to the Centre to reorganise NAFED and its functioning. But the Centre has not given its nod so far. Accordingly, the existing employees are also waiting to avail the VRS option.
When the copra prices came down in Kerala, the NAFED had provided the farmers much relief by procuring the commodity at minimum support price.
A large number of farmers across the country are also beneficiaries of the various schemes implemented by the organisation.
Given the impact the closure of NAFED could make in the lives of farmers, the farmers unions have sought the immediate intervention of the Centre in the matter.
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