KATHMANDU: The Ministry of Finance has granted approval for the Ministry of Agriculture and Livestock Development to submit a proposal to the Council of Ministers for a loan investment of Rs 600 million in the Dairy Development Corporation (DDC), subject to certain conditions.
This substantial amount will be utilized by the DDC to promptly settle outstanding payments to farmers for their milk.
For the current fiscal year, there is a budget allocation of Rs 10 million under the loan investment for the DDC.
Once the Cabinet approves this proposal, the government will proceed with the investment as a loan to DDC.
Farmers have been pressing for the settlement of their milk payments.
This issue has been the subject of numerous discussions between Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel; Agriculture Minister Ramnath Adhikari, and officials from the DDC.
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