GUJCOMASOL registers rise in profit, gives 20% dividends

At a time when demonetization and GST have allegedly affected the earnings of co-operatives in the country, GUJCOMASOL created a sorts of history by announcing 20 percent dividends in its 57th Annual General Meeting held in Ahmedabad on Tuesday.

As a proud marketing cooperative Chairman Dileepbhai Sanghani would say to this correspondent “We are the only cooperative in Gujarat which has announced 20 percent dividend for its member societies.”

GUJCOMASOL’s 57th Annual General Meeting was inaugurated by the Union minister for shipping, Mansukh Mandaviya. The dividends were transferred electronically even as the AGM proceedings were in progress. The only other co-operative to do so is IFFCO, recalled a cooperator who is both the member of Gujcomasol and IFFCO.

“Through modern technological means, we have transferred the 20 percent dividend (soon after the resolution passed in the AGM) into the accounts of our member societies online where many of the delegates received mobile massages while the AGM was still in progress”, Sanghani who replaced Natu Patel under court instruction claimed.

“Earlier our member societies informed that we are not getting good market commission in selling urea to the farmers. The commission last year was Rs 161 per quintal but now we have increased the commission by Rs 300 per quintal”, the Chairman said.

Sanghani further said, ”we have earned a profit of Rs 13 crore in the FY 2017-18 where as in the previous FY 2016-17 it was about Rs 5 crore. We have also received the export license and would start exporting soon, he added with a sense of satisfaction.

Speaking on the occasion the Union Minister Mansukh Mandaviya said, “The government has decided to build a special jetty in all the major ports in order to ease the movement of fruits and vegetables from the ports of the country”.

“There are nine nations in the Gulf (middle-east). They do not have fruits or vegetables. All they have is oil and money. These nations are currently being supplied with fruits and vegetables by Europe and African countries. We can send our cargo to the markets in the Gulf by the sea route in just three days from Mundra, Kandla and Pipavav ports”, Minister asserted.

Banas Dairy Chairman Shankarbhai Chaudhary, COBI Chairman, G.H.Amin, NAFED Chairman V.R.Patel, Amul Vice-Chairman Jethabhai Bharwad, officials of the marketing cooperative, hundreds of delegates and others were present on the occasion.

Besides doing regular activities, Gujcomasol would also add value to things catering to the needs of the farmers of Gujarat, asserted Sanghani.

Readers would recall that soon after taking over as the Chairman, Sanghani launched a much sought after market product – Peanut Oil in Amreli. He had invited Union Minister of State for Agriculture Parshottam Rupala and Gujarat BJP President Jitu Vaghani to do the honours.

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