Board of the Directors of the Punjab Seed Corporation (PSC) has approved an annual budget of over Rs 3.4 billion of the Corporation for the year 2010-11. The budget was approved at the 95th meeting of the Board of Directors held here Tuesday with the Punjab Minister for Agriculture Malik Ahmad Ali Aulakh in the chair.
The meeting was informed that the growers would be provided over 2.2 million maunds of quality seeds of wheat, cotton, paddy, maize, gram, potato and oilseeds. The Punjab Minister for Agriculture Malik Ahmad Ali Aulakh speaking on this occasion said that provision of quality and certified seeds is the top most priority of the provincial government. The government would take all out steps to provide high quality certified seed to the growers in time. He also called upon the Corporation to adopt latest marketing techniques for improvement of its functioning.
He warned that no negligence would be tolerated for the welfare of the growers and providing them high quality seeds. He said that the Corporation would spend over Rs 2.75 billion on procurement and processing of the seeds. The meeting also approved the revised budget 2009-10 and audited accounts of the year 2008-09.
Briefing the participants on this occasion, PSC Managing Director Muzaffar Mahmood said that 65568 million tons of wheat, 126 million tons of grams, 1630 million tons of cotton and 2577 million tons of paddy seed were provided to the growers during the year 2009-10. While the targets for the year 2010-11 are providing 65120 million tons of wheat seed, 211 million tons of gram, 4279 of cotton seed and 2464 million tons of paddy seed.
He said that the Corporation would procure 76000 million tons of wheat seed during the year 2010-11, 240 million tons of gram seed, 7780 million tons of cotton and 2800 million tons of paddy seed. These seeds would be provided to the growers after processing.
It was also informed at the meeting that the Corporation earned a net profit of Rs 180.4 million during the year 2009-10 and expects to earn a profit of Rs 193.86 million during the year 2010-11. The meeting was also attended by Additional Secretary (Admn) Agriculture Muhammad Ameer Khattak, representatives of the Finance Department, Planning and Development and high-ups of the Punjab Seed Corporation.