Sale of Pula Steel kicks off
Friday, November 23, 2018
Built at a cost of P130 million, the company operated in fits and starts due to financial and technical challenges, including shortage of its raw material.
The company, majority owned by BCL Mine and with shareholding from CEDA and founders, the Verma family, was placed in liquidation last October, owing creditors an estimated P100 million. This week, WH Auctioneers, a South African firm experienced in disposals involving liquidations, announced that bids were now open for Pula Steel.
The Ministry of Agriculture, local producers, retailers, and industry associations must work together to overcome the obstacles hindering vegetable production and distribution.This collaborative approach is essential to improve the availability, quality, and affordability of vegetables in the market.Firstly, the Ministry of Agriculture should provide support and guidance to local farmers to enhance their productivity and efficiency. This could...