Cold storage loan to be subsidised

Kathmandu, July 21 (RSS): Taking into consideration the important contribution of cold storage in promoting and protecting the interest of both the producers and consumers and with an objective of encouraging farmers to increase their prodcution, an amount has been allocated in the budget of the current fiscal year to provide subsidy in the loan issued from Rastriya Banijya Bank, Agricultural Development Bank and Nepal Industrial Development Corporation for the construction of cold storage.

According to the Finance Ministry, the amount will be used for providing 100 per cent subsidy in interest of the loan taken to construct cold storage in the first year, 75 in the second and 50 per cent in the third year while loan taken before the current fiscal year will also be provided a 50 per cent loan subsidy.

The loan subsidy is expected to provide farmers a proper price of their products and cold storage builders will be encouraged to build new cold storage house.