Punjab government to procure 190 lakh MTs of paddy
The mills which had completed their milling by January 31, 2018, would be eligible for additional 15% of free paddy, the spokesperson said, adding that those who had completed delivery of rice by February 28 would get an additional 10% of free paddy.Updated: Aug 30, 2018 22:04 IST
The Punjab cabinet on Thursday gave its nod to the policy for custom milling of paddy in Kharif 2018-19 to ensure “seamless procurement of paddy from farmers and delivery of rice” into the Central pool from more than 3,710 mills operating in the state.
The state is expected to procure 190 lakh metric tonnes (MTs) of paddy and the target is to complete the custom milling of paddy, thereby delivering all due rice to Food Corporation of India (FCI) by March 31, 2019.
A spokesperson for the chief minister’s office (CMO) said the sole criterion for allotment of free paddy to mills would be the miller’s performance in the previous year, and an additional percentage-wise incentive would be provided to mills as per their date of delivery of rice against custom milled paddy last year.
The mills which had completed their milling by January 31, 2018, would be eligible for additional 15% of free paddy, the spokesperson said, adding that those who had completed delivery of rice by February 28 would get an additional 10% of free paddy.
Cibil score, Bank guarantee introduced
To strictly check allotment of government paddy to non-eligible parties, the millers for the first time would be mandatorily required to submit a certified credit report, along with complete Credit Information Bureau India Limited (CIBIL) report for all their financial transactions from their bankers for this purpose, according to the spokesperson.
The miller desirous of doing milling of government paddy should have a CIBIL score not below 600 and CIBIL Micro, Medium and Small Enterprises Rank (CMR) should be 6 or lower. In addition, the miller would have to submit a bank guarantee equal to the value of 5% of acquisition cost of total paddy to be stored in mill premises.
Also, a first-time provision of an arbitral panel of three arbitrators has been made in the policy for efficient and time-bound redressal of any dispute. The arbitration will be conducted at Chandigarh under the provisions of the Arbitration & Conciliation Act 1996.
First Published: Aug 30, 2018 22:04 IST