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Govt to issue bonds to FCI: Cabinet

Written by: Staff

New Delhi, Mar 16 (UNI) The government has decided to issue special securities to the Food Corporation of India (FCI) towards settlement of the outstandings, subject to Parliament's approval.

The decision was taken at a Cabinet meeting here today chaired by Prime Minister Manmohan Singh, Finance Minister P Chidambaram told reporters.

The move was aimed at improving the financial position of the FCI and help it continue with its procurement operations.

The Cabinet also gave approval for signing of an agreement with South Africa on Merchant Shipping and other Maritime Transports related matters and also for ratification of the agreement.

The agreement will improve the shipping links between India and South Africa and will further strengthen the bilateral relations between the two countries.


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