J&K: Minister concedes step-motherly treatment to co-op

2,000 out of 3,000 registered cooperative societies reported defunct in Jammu & Kasmir are seriously affecting employment generation in the state, reports Greater Kashmir.

J & K cooperative minister is quoted saying one of the reasons responsible for the situation is the state government meting out step-motherly treatment to the cooperative department.

The state govt. allocates a paltry Rs . 2 crore for the department, the minister said.

Sources familiar with the developments in the cooperative sector also blame the present mess on factors such as political influence, financial mismanagement and a large number of people defaulting on their loans.

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