Government Approves Sale of Zinc Sheets After Two Years

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November 28: Salt Trading Corporation (STC) has received approval from the government to sell the corrugated zinc sheets purchased after the earthquakes of 2015. STC said that the government has given permission after two years to sell the zinc sheets at the market price. The STC stated that it had imported 50,000 bundles of zinc sheets for Rs 300 million from India on the second week of June, 2015.

A meeting of the  council of ministers had directed the STC to purchase the sheets for the construction of public buildings, schools and health posts. But the sheets had to be stored in the godowns for a long time after the government bodies did not use them in construction.

Despite the demand for the zinc sheets in the market, the government had not allowed the STC to sell the zinc sheets. A few days ago, the Ministry of Supplies had forwarded the the proposal of the STC to sell those zinc sheets to the council of ministers and the cabinet meeting subsequently approved it.

Pankaj Joshi, divisional manager of STC, said that the corporation is preparing to call for tenders after the provincial assembly election. The STC is set to sell the zinc sheets at the current market price, bearing a loss as it had bought them at higher price.

The STC informed that the interest of the amount taken for the purchase of the zinc sheets has reached Rs 70 million. The Ministry of Supplies has approved the sale and has been corresponding with the Ministry of Finance to compensate for the loss amount that the STC will bear after selling the zinc sheets, said a source at the Ministry of Supplies.  

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