• FORMS A COMMITTEE FOR MITIGATING THE LOT OF PACS’
• ADOPTION OF DIVERSIFICATION MODEL BY PACS’ ALSO STRESSED UPON
• GOVERNMENT TO CONSIDER PROVIDING PACKAGE FOR PACS’ ADJOINING INTERNATIONAL BORDER
Chandigarh, June 8:
The Cooperation Minister, Punjab S. Sukhjinder Singh Randhawa today presided over a meeting with the Secretaries/representatives of Primary Cooperative Agricultural Service Societies (PACS) in the State. Expressing his concern over the increase in losses of PACS year-after-year he said that out of 3548 PACS, last year 36 percent PACS were in loss which has arisen to 40 percent as on 31.3.2018. He emphasized that there is a need to take constructive measures so that the PACS, which are a tool for the development of farmers in the State, may survive.
On the occasion, Managing Director, Punjab State Cooperative Bank Dr. S.K. Batish gave a presentation before the Minister and suggesting measures for the viability of PACS said that the PACS which are defunct should be amalgamated with the adjoining PACS. He further said that the size of business of the present functioning PACS’ is not up to the level which can generate establishment costs of its staff. He suggested that the PACS’ should diversify their business and should set up Agriculture Service Centre, grocery shop, diesel pump and business of deposits, marketing of cattle feed and advance to Self Help Groups. Representatives of the PACS requested for rationalization of the margin provided by the MARKFED on fertilizer and consumer goods to PACS.
S. Randhawa immediately constituted a committee consisting of MD PSCB, Additional MD MARKFED, and three representatives of PACS, who will meet and give its recommendations. The representatives of the PACS pointed out that for the advancement of crop loan to the farmers, their land is not mortgaged and as such before sale and transfer of land by the borrowers, a no due certificate from the PACS should be taken by the Revenue Authorities. Upon this, Additional Chief Secretary Cooperation Mr. D.P. Reddy said that he will write to the Department of Revenue for the issuance of instructions in this regard.
The Minister insisted for renovation of the branches of Cooperative Banks and agreed that Government will consider providing a package to the PACS adjoining the international border in view of their losses during the period of militancy.
Among others present also included Registrar, Cooperative Societies, Punjab Mr. D.S. Mangat.