Markfed & Hindustan Petroleum Ink Mou In Presence of Cooperation Minister Sukhjinder Singh Randhawa


Chandigarh, June 21:

Marking a red letter day in the annals of the cooperation sector in Punjab, eminent name in the petroleum field Hindustan Petroleum today inked an MoU with Markfed in the presence of the Cooperation Minister, Punjab, S. Sukhjinder Singh Randhawa. Under the MoU, it was agreed to provide various types of oil, grease and other lubricants to the farmers of Punjab under a joint logo of the Hindustan Petroleum and Markfed for their machinery. The unique feature of the MoU would be that the lubricants would be made available to the farmers in villages through Cooperative Societies.

Speaking on the occasion, the Cooperation Minister, Punjab, S. Sukhjinder Singh Randhawa said that the Cooperation Department is connected with more than 10 lakh farmers in the state through the well laid out network of more than 3500 primary cooperative societies. He also expressed confidence that when these top quality lubricants on affordable rates would reach the cooperative societies of the villages then there would be no need for the farmers to go to the cities. He also said that this initiative by Markfed would be a milestone in setting up Markfed on the road to financial prosperity.

  1. Randhawa further elaborated that in order to strengthen the financial condition of the cooperative societies, the Markfed has been directed to make available the products of other reputed companies also apart from its own to the farmers through cooperative societies so as to serve the twin purpose of mitigating the financial lot of the societies and making the high-quality products reach rural regions.

In his address, the Additional Chief Secretary (Cooperation) Mr. D.P. Reddy said that the Markfed should also go in for an agreement regarding the sale and marketing of its edible products through the retail outlets of Hindustan Petroleum which was agreed to by the General Manager of Hindustan Petroleum Mr. Sanjay S. Adsul. The DGM of Hindustan Petroleum Mr. Sunil Kant informed that around 50 petrol pump owners have expressed interest in the sale of Markfed products and an agreement would be inked in this regard too in near future.

On the occasion, the Additional Managing Director (D) Mr. Bal Mukand Sharma added that the Additional Chief Secretary of the Cooperation Department has already issued orders to all the Regional Officers of Punjab to explore avenues for diversification of activities by the cooperative societies other than being limited to the distribution of loans and fertilizers. This would ensure that the cooperative societies emerge as the business hubs and the products of companies other than Markfed and Milkfed reach the people on affordable rates.

It is worth mentioning that the Managing Director Markfed Mr. Rahul Tewari has instructed the District Managers of the Markfed apart from all the Regional Officers to achieve the target with regard to make cooperation sector of Punjab emerge as a global force to be reckoned with.

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