Punjab Cooperation Minister Sukjinder Singh Randhawa on Friday constituted a five-member committee, consisting of Punjab State Cooperative Bank (PSCB) managing director Dr SK Batish, to give recommendations for mitigating the condition of Primary Agricultural Cooperative Service Societies (PACS).
At the same time, the Minister maintained that the State Government would consider providing a package to the PACS, adjoining the international border, in view of their losses during the period of militancy.
Randhawa, who presided over a meeting with the secretaries or representatives of state’s PACS’, expressed his concern over the increase in losses of PACS year-after-year. He pointed that out of 3,548 PACS, 36 percent were in loss last year which has risen to 40 percent as on March 31, 2018.
To improve PACS’ condition, Randhawa immediately directed to constitute a panel consisting of PSCB MD, Markfed additional MD, and three representatives of PACS, who will meet and give its recommendations.
Besides, the Minister also insisted for renovation of the branches of Cooperative Banks.
Randhawa emphasized that there was a need to take constructive measures so that the PACS, which are a tool for the development of farmers in the State, may survive.
PSCB MD Dr Batish gave a presentation to the Minister suggesting measures for the viability of PACS. He said that the PACS, which were defunct, should be amalgamated with the adjoining PACS.
He added that the size of business of 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 set up Agriculture Service Centre, grocery shop, diesel pump and business of deposits, marketing of cattle feed and advance to Self Help Groups.