PSUs to be reimbursed for losses in pulses import

The union cabinet on Wednesday gave its approval for reimbursement of Rs.113.40 crore in losses on pulses imported by various public sector undertakings, an official release said.

The cabinet in a meeting chaired by Prime Minister Narendra Modi, approved the proposal of the consumer affairs and food and public distribution ministry to reimburse losses on pulses imported between 2006-2011 by the National Agricultural Cooperative Marketing Federation (Nafed), Project and Equipment Corporation (PEC), State Trading Corporation (STC) and Metals and Minerals Trading Corporation (MMTC), apart from losses incurred in the sale of pulses upto six months after closure of the scheme.

This will enable the central public sector undertakings (PSUs) to intensify trading activities to cool down prices, a release said.

It was decided to import 5,000 tonnes of 'Tur Dal' and 5,000 tonnes of Urad Dal by MMTC, a central PSU.

The first consignment of imported pulses would be reaching Mumbai by September 5.