FCI panel discusses ways to optimise storage capacity

A high-level panel, set up to suggest ways to revamp FCI, today discussed ways to improve storage capacity of foodgrains and possible savings on various cost elements by the public sector undertaking.
In its fifth meeting held today, senior FCI officals made presentations on addressing storage and finance issues, while Trinity Reinsurance Brokers submitted a paper on transit insurance, an official statement said.
On finance matter, a presentation explained possible savings on various cost elements and interest savings if the finance ministry provided funds upfront, savings by undertaking labour reforms and shifting storage to private parties for cost reduction, it said.

The panel, headed by former Union Minister Shanta Kumar, will hold its next meeting on first week of November after doing the field visit in the various states.
FCI is the nodal agency for procurement and distribution of foodgrains. On August 20, the Centre had set up a high- level committee to suggest various models to restructure the FCI, which plays a key role in strengthening public distribution system (PDS).