June 23: Chief Executive Officer (CEO) of the state-owned Salt Trading Corporation Limited, Urmila Shrestha, says that the company is trading salt at a loss. In a discussion with New Business Age, she said, “The company is facing massive losses in the salt business. The loss is even more in remote areas.” According to Shrestha, the company makes up for the loss in salt business from other businesses.

The Salt Trading Corporation is the first public company of Nepal which supplies iodized salt across the country. Shrestha also said that they have a stock of salt which lasts for at least six months.

The Salt Trading Corporation also imports subsidized and non-subsidized fertilizers. Around 500,000 metric tons of fertilizer is required in Nepal annually. Currently, only 60,000 to 70,000 metric tons are available. However, CEO Shrestha assured all farmers that they will get fertilizer.

According to Shrestha, the government has allocated fertilizer quotas in different districts, which the corporation distributes accordingly.

She however complained that the proportional system of fertilizer distribution has created problems and claims that fertilizers go to unnecessary places as well.

Stating that the country should opt for organic farming, Shrestha said, “'Nepal lacks proper research on organic farming. We are now working with the idea of cultivating organic chemical mixtures.”

The Salt Trading Corporation is also involved in the business of rice, lentil, and oil. Wheat trading and contract farming are also being done through the company. Stating that they are also raising the issue of sugarcane farmers, Shrestha said, “We have raised our voice with the line  minister and secretary on the issue of sugarcane farmers. Sugar mills do not have such a problem now. Currently, only a few mills have not paid to the farmers.” 

There are about a thousand employees in the Salt Trading Corporation with about 90 percent women in packing section. Shrestha, who is also the vice-president of Nepal Chamber of Commerce and president of Women’s Chamber, said that she is mainly teaching banking, finance and taxation to women through the Chamber.