The state of Punjab has been boasting of having a strong co-operative movement in the state but the latest reports coming from the state say otherwise. Out of more than three thousand five hundred PACS, nearly 40 percent are in loss, admits State Cooperation Minister Sukhjinder Singh Randhawa.
Disturbed by the findings Punjab Cooperation Minister Sukhjinder Singh Randhawa has constituted a five-member committee that would suggest the ways and means of improving the conditions of PACS in Punjab, reports Pioneer.
Randhawa had no hesitation appreciating the role PACS could play in changing the rural life of the people. The minister stressed the importance of PACS saying they could play a crucial role in ensuring the welfare of farmers.
A source close to the cooperative sector is quoted saying the PACS should diversify their business and set up Agriculture Service Centre, grocery shop, diesel pump and business of deposits, marketing of cattle feed and advance to Self Help Groups.
Meanwhile, media reports say Punjab’s cooperative societies department has laid down such guidelines as would prevent poor farmers from taking short term crop loans under the maximum credit limit (MCL).
Farmers are worried that this will make them dependent on traditional Shylocks and commercial banks. The new guidelines were issued recently by the office of Registrar of Cooperative Societies.
However, cooperative officials have discounted all dire rumors and instead said the new guidelines would even facilitate the landless farmers to avail of MCL on short-term crop loans as they were not eligible for the same but now they can avail of loan if they submit an affidavit from the lessor.