Admarc seeks K40bn for farm produce purchase

Admarc officials are seeking K40 billion from Treasury to buy farm produce.

The officials told the Parliamentary Committee on Agriculture that the K4 billion allocated in the national budget for the for both Admarc and NFRA for the exercise is far too little.

Admarc acting general manager Ethel Zilirakhasu said Admarc was since given K1.5 billion from the allocation.

She further said the money was released on May 5, 2023 but ended up being used to pay salary arrears for February 2023 to April 2023.

However, Zilirakhasu said Admarc started buying produce on  June 1 2023, using funds carried over from last year’s funding.

A sum of K1.85 billion was carried over from the K2.5 billion that the institution received.

She said Admarc is still waiting for the remaining K2.5 billion for this year’s allocation to continue carrying out its operations.

Admarc head of Finance Chrissy Nyirenda told the committee that the institution has huge debts which are affecting the company’s efforts to implement its business plan.

She said there is need for government to come in and recapitalise Admarc.