Presenting the Punjab Budget for 2023-23 on Saturday, State Finance Minister Harpal Singh Cheema made several announcements for strengthening the cooperative sector, one of which is the proposed massive expansion of Markfed.
“MARKFED is setting up new godowns at 13 locations with a total capacity of 1.75 lac MT for which Rs 80 crore provision had been made in the current financial year. The construction of six godowns is expected to be completed by March, 2023. I again propose Rs 100 crore for completion of the remaining seven projects in the next FY 2023-24”, said Cheema.
He further added, that “SUGARFED has been provided a support of Rs 400 crore to further pay cane growers of the State and clear all pending liabilities. I propose an allocation of Rs 250 crore more in FY 2023-24 for SUGARFED. Our Hon’ble Chief Minister Ji successfully raised the issue of enhancing the Sugar quota for the cooperative sugar mills with the Union Government. I am happy to inform you that due to his efforts, the sugar mills were allocated an additional quota of 50% and also the export quota”.
Strengthening MILKFED, Cheema said, “Milkfed would expand its procurement network in villages on one hand and on the other hand market its products in national and international markets. Rs 100 crore is hereby proposed in the next financial year to nudge MILKFED to reach new heights. Our Government envisages to double the turnover of MILKFED from Rs 4,886 crore in the FY 2021-22 to Rs 10,000 crore by the FY 2026-27”.
It is heartening to inform you that a new 110 Ton Per Day (TPD) physical refinery for processing crude palm oil and 100 TPD Vanaspati plant at Khanna is being installed by MARKFED and the work would be completed in the FY 2023-24. Further, two new Oil Mills at Budhlada and Gidderbaha for processing of Mustard crop would be installed by MARKFED in the FY 2023-24, he informed.
In order to rightfully remunerate the cane growers, Sardar Bhagwant Singh Mann Ji has increased the rate provided by the State Government to Rs 380 per quintal. Whereas, Haryana is giving Rs 372 per quintal, Uttar Pradesh Rs 350 per quintal and Government of India is just giving Rs 305 per quintal (FRP), he added.
Counting the initiatives of his government in the interest of the cooperative sector, he said, “We helped several struggling cooperative institutions to stand on their feet. For instance, Rs 885 crore was provided to Punjab State Cooperative Agricultural Development Bank (PSCADB) to pay back its NABARD loan and clear terminal benefits of its pensioners, which were stopped in 2013.”
Adding he said “Rs 135 crore capital infusion has been done to facilitate District Central Cooperative Banks (DCCBs) to carry on their good work. Similarly, Rs 36 crore financial assistance was given to MILKFED”.