Punjab sets up board for agriculture, horticulture promotion
Darpan News Desk IANS, 16 Aug, 2021 12:12 PM
Chandigarh, Aug 16 (IANS) To promote agriculture and horticulture in the state by boosting the crop diversification programme, the Punjab cabinet, chaired by Chief Minister Amarinder Singh, on Monday approved the merger of Punjab Agro Juices Ltd (PAJL) with the Punjab Agri Export Corp Ltd (PAGREXCO).
The Cabinet approved the proposal of the Agriculture and Farmers' Welfare Department for the merger as per the recommendations of the Board of Directors of PAGREXCO and PAJL and the officers' committee headed by the Chief Secretary.
The merged entity would be called Punjab Agri Export Corp Ltd, an official spokesperson said after the Cabinet meeting, which also authorized the Managing Director, Punjab Agro Industries Corporation Ltd (PAIC), to perform all such acts and deeds which are necessary for the implementation of the merger scheme and to make the merger scheme effective.
The merger would lead to better utilisation of resources of the PAJL with the PAGREXCO, creation of synergy, better economies of scale, expansion of operations, stronger farmer connect with forward and backward linkages, common branding and marketing to have a better consumer outreach, which will ultimately benefit the farmers and the agriculture sector of the state.
As per the merger terms and conditions, the new entity is envisaged as a company, and the entire decision making would be vested in the Board of Directors.
The Chairman of the merged entity will be an eminent horticulturist with experience in agribusiness.
The Board of Directors shall be appointed based their professional competencies from the areas of horticulture, marketing, finance, etc.
Walmart Inc, in May last year, had announced that it is buying 77 per cent stake in Flipkart for about USD 16 billion (Rs 1.05 lakh crore), its biggest deal that gave the US retailer access to the Indian e-commerce market.
The woman, along with her accomplices, had fled with a bundle of notes after offering to exchange notes of lower denomination with that of higher denomination, they said.
According to police, the victim Mohammed Hanif Siddhiqui had handed the old banknote to a vendor while purchasing vegetables from him outside Dadar (West) railway station on Monday night.
The woman approached the SP after the local police recently closed her complaint as her daughter during an inquiry told them she had embraced Christianity on her own volition.
