TSFDC exploring new avenues of revenue generation

Hyderabad: The Telangana State Forest Development Corporation (TSFDC) is planning to explore new avenues, including supply of timber to IKEA, for revenue generation. This apart, efforts are also on to develop eco-tourism office complex, integrated central nursery to supply tree species and mosquito repellant plants.

TSFDC members, who had a virtual Annual General Body Meeting on Thursday, suggested that the Corporation explore new avenues of revenue generation, Forest certification by Forest Stewardship Council, paper board material supply for tetra packs and possibility of timber supply to Ikea, among other things.

Chairman Vanteru Prathap Reddy briefed the general body about the status of the Corporation. The corporation registered exponential growth in net profits this year at Rs.95.49 crore compared to just Rs 2 crore last year. The rurnover of the Corporation was about Rs.150 crore.

The Corporation also finances beedi leaf collection in the State. The Andhra Pradesh Government issued an order on May 5, 2021, settling the bifurcation issues and settlement of Rs.51.02 crores and interest under beedi leaf scheme, he said.

He said under Corporate Social Responsibility, the Corporation was supplying free fuel wood to crematoriums in view COVID-19 situation on indent by Municipalities in the State. Till date, 150 MT of fuel wood had been donated, he informed.

The AGM passed a resolution adopting the audited balance sheet, profit & loss account of the Forest Development Corporation based on proposal submitted by VC&MD, Dr.G.Chandrashekar Reddy, IFS, seconded by Swargam Srinivas, IFS, PCCF (Admn), Spl. CS A.Santi Kumari, IAS and Hemanth Kumar, IFS .

Sidhanand Kukrety, IFS gave several suggestions for improvement and diversification of activities of the Corporation.

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