Punjab is going out of its way to encourage the cooperative sector in the state. Chief minister Prakash Singh Badal has okayed an important proposal in this regard.
According to this proposal formulated recently by the cooperative department that would allow the cooperative organisations to sell their land and buildings and use the amount thus gained in buying equipment and other needed properties as well as in income generating activities.
The govt proposal makes it abundantly clear that the cooperative organisations would not be allowed to spend the amount made through sale of land and buildings on meeting their routine expenses, payment of salaries to its staff, for example.
However, this would not apply to the cooperative bodies that are about to fold.
