silos.jpgThe Grain Marketing Board, GMB says it will retrench over 2 000 employees as the parastatal embarks on a massive restructuring exercise to restore viability.

Outlining GMB’s 2010 strategic plan, the parastatals Board Chairman Mr. Charles Chikaura said the organisation is currently not viable as it is faced with several challenges including operating inefficiencies, increased litigation and unsustainable accumulation of debt among others.

Agriculture, Mechanisation and Irrigation Development Permanent Secretary Mr. Ngoni Masoka said the government is concerned with the slow pace of restructuring exercise at GMB since last year.

GMB is currently depending on the fiscus in its attempt to fulfill its mandate of ensuring the nation’s food security.

The grain reserves board said the main objective of the restructuring exercise is to use the organization’s vast asset base to create value for shareholders to fund the Strategic Grain Reserve activities with recourse to the fiscus.