Establishment of food bank with investment of Rs. 2 billion, IPO to be issued to the public

 The office of Rastriya Food Bank, which was established with an emphasis on organic production, has been inaugurated. The central office of the bank, which was established a few months ago under the slogan 'Sustainable Agriculture for Nutritious Food', was inaugurated on Thursday.

Chairman of the Bank, Shankar Nath Upreti, informed that the bank was established with the objective of reducing dependence on agriculture and emphasizing on organic production. According to him, the bank has been established with an investment of Rs 2 billion.

 

The bank currently has 590 promoter share members. Preparations are being made to increase the number to one thousand. Chairman Upreti informed that preparations have been made to issue IPO to the public soon after fulfilling the required criteria. “We have established a food bank as a company that produces and trades in agricultural produce. We produce and trade paddy, wheat, maize, vegetables and fruits through banks. We increase production by cooperating with farmers, ”he said.

In the first phase, the bank is preparing to start agricultural production in 23 districts within the current fiscal year. For this, 600 bighas of land have been leased in different districts of the Terai. Production has already started in 13 districts including Kailali, Kanchanpur, Bardiya, Jhapa, Morang, Sunsari, Dhanusha, Chitwan and Rupandehi, while preparations have been completed for additional land in Jhapa, Morang, Sunsari and other districts.

 

The main objective of establishing a food bank is to reduce dependence on agriculture, increase agricultural production, increase employment and address the issue of public health by emphasizing on organic production.