admin“The strategic grain reserve requires $51 million. Source of funding has been identified and presented to the ministry of finance for finalisation,” it said.
The funding is targeted at silo rehabilitation which will gobble $31 million while $13 million will be channeled towards establishment of a logistics fleet and $7 million going towards development of ICT infrastructure.
The Grain Marketing Board has said that it is targeting to build strategic grain reserves amounting to 250 000 metric tonnes this year.
The parastatal has on many occasions failed to pay farmers timeously for grain delivered to its depots.
Government has since taken steps to privatise the GMB to help revive its fortunes and liberalise grain marketing.
Prior to that, GMB had legal monopoly over trade in strategic grains such as maize and wheat. – New Ziana
Online Reporter