Parliament passes warehousing corporation amendment bill

Parliament on Tuesday passed the warehousing corporation amendment bill which seeks to remove the provision about the central government's responsibility of being a financial guarantor to the corporation.

The bill, which was passed by the Lok Sabha in March, was passed by the Rajya Sabha on Tuesday.

Moved for consideration and passage by Food and Consumer Affairs Minister Ramvilas Paswan, the bill seeks to amend the Warehousing Corporation Act, 1962.

According to the statement of objects and reasons of the bill, the Central Warehousing Corporation has been awarded a mini-ratna status by the department of public enterprises.

It said one of the criteria to be a mini-ratna enterprise is that there should be no financial support from the government to the enterprise and it should not depend on any budgetary support.

The amendment aims to absolve the central government of its responsibility of being a guarantor. - IANS