Rs 162.75 cr package for revival of SFCI: Cabinet

New Delhi, Jan 3 (UNI) The Cabinet today approved a Rs 162.75 crore financial package for the revival of the State Farms Corporation of India Ltd which has accmulated losses of Rs 117.42 crore.

Under the package, government loans amounting to Rs 58.74 crore and interest Rs 65.68 crore would be converted into equity. A loss of Rs 17.12 crore would be set off against the equity capital of SFCI.

Further, the government would give a grant of Rs 21.21 crore for settlement of liabilities of the Corporation pertaining to employees provident fund.

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