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Objectives and Functions of Bangladesh Warehousing Corporation

Aims and Objectives

For improving the agrarian economy the following aims and objectives are kept in view:—

(1) To minimise the storage losses which are to the tune of 5 to 15 per cent incurred due to unscientific and unsatisfactory storages, thereby paving the way towards achieving self-sufficiency in agricultural commodities including food grains on the one hand and save huge foreign exchange on the other.

(2) To achieve a uniform national grading and standardization of commodities for orderly marketing on a national basis.

(3) To ensure fair prices of agricultural and industrial products to both producers and consumers with a view to stabilise the national economy. This would also eliminate the undue profit earned by the middlemen between producers and consumers.

(4) To channelise institutional credit to the producers and other needy depositors through ‘Warehousing Receipt’ issued against their deposit and thus reduce the exploitation by the unscrupulous money lending agencies.

(5) Training of qualified personnel to manage and run warehouses.

(6) To cater to the integrated warehousing needs as a specialised Central National Agency for the Government, public undertakings, co-operatives, producers and others, so that there is no chance of duplicating construction of storage facilities in any one location by other agencies spending public funds.

Functions

(1) Acquire, rent and construct warehouse for agricultural and allied products and mercantile goods in different parts of the country specially in the assembling markets and in the border areas ;

(2) Operate warehouses for storage of agricultural and allied products and mercantile goods offered by individuals, co-operative societies and other organisations;

(3) Undertake market surveys to determine the feasibility of setting up warehouses in different areas ;

(4) Promote and aid the co-operative ventures in the marketing of products of the country as a means to linking credit with marketing;

(5) Carry out functions anciliary to or connected with the operation of the warehouses and the promotion of the growth and development of warehousing facilities in the country.

Commodities for Warehousing

The following agricultural and mercantile commodities are to be stored in warehouses: Foodgrains, including pulses, semi-milled and milled products, spices and condiments, fibres (jute, cotton etc.) oils, seeds, oil cakes, sugar, jaggery etc. seeds, relief materials, perishable commodities like fruits, vegetables, dairy products, poultry etc. agriculture implements, mercantile commodities like iron, steel, other metals, port land cement, coir and coir products, textiles, paper, pulp, paper products, leather, leather goods and pickers, tobacco, lac, wool, tea, panels, battens, tallow, washing soda, soda ash etc.

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