Shimla: The Himachal cabinet, presided over by chief minister Virbhadra Singh at its meeting held here today approved a World Bank Funded Rs 1000 crore HP Horticulture Development Project.
The cabinet approved that the project would be executed by creating a special purpose vehicle (SPV) under HP Society Registration Act, 2006 by setting up an apex level society.
The Special Purpose Vehicle would manage all progeny cum demonstration orchards and the farms owned or under the possession of horticulture and other departments by the society to be created for the purpose.
Approval was also given for handing over the management of all progeny cum demonstration orchards of horticulture and other departments to the SPV on agreed terms and condition through a memorandum of understanding to be signed between the SPV and the concerned department.
Stating this in the meeting, the chief minister said that the function of the societies or SPV formed therein would be to set up modern nurseries and demonstration orchards of various fruits and cultivars, flowers and vegetables and to manage them profitably so that requirements of quality plant material could be met on a regular basis.
The chief minister said that the project would help ensuring better post harvest management besides supply chain management, establishing alternative market management and use of information technology in the development of horticulture sector in Himachal besides enhancing horticulture competitiveness at the farm level.