For the first time in its 47-year-old history, the public sector Kerala State Cashew Development Corporation (KSCDC) is all set to make profits. KSCDC Chairman S. Jayamohan said that though a modest figure, the KSCDC will register its first profit of Rs.5 lakh within the next ten days. “The stage has been set to make the KSCDC a profit-making company.”
Addressing the media at the Kollam Press Club on Friday, Mr. Jayamohan said that earlier every working day of the KSCDC created loss for the company. Mr. Jayamohan, former Kollam district panchayat president, took over as KSCDC chairman recently and took steps to increase productivity of the unit.
“Effective steps are being taken to elevate the KSCDC to the status of a profit making company within the next five years.” He said that in the past the average kernel out turn while processing an 80-kg standard raw nut bag stood at 17 kg. It now touched an average of 22 kg.
The KSCDC is likely to provide jobs for another 5,000 cashew workers soon. The introduction of e-tender system for purchase of raw nuts and sale of kernels has brought in transparency to the unit. Mr Jayamohan said that through the sale of kernels produced by the company under the new system, the KSCDC could to earn the highest price rate in the domestic market for its kernels.
The KSCDC has liabilities of Rs.168 crore to three nationalised banks. A settlement has been reached through government-level talks for reducing the amount. Once that is cleared the KSCDC will restart exporting kernels. Though the KSCDC manages 30 factories, only ten are owned by the company on record. Steps have been taken to gain full ownership of the remaining 20 factories.
He said that the gratuity liability of the company is Rs.56 crore and the Provident Fund dues, Rs.6 crore.
