JK Govt to make cooperatives a profitable initiative: Dorjay

Jammu Kashmir government today said it will transform cooperative societies into profit making venture and, promised to launch a probe into allegation of misappropriation of society funds and action against those found guilty.
All the cases of embezzlement shall be thoroughly probed and whosoever is found involved in misappropriation of funds or misuse of official position shall be prosecuted under the laws of the government, Minister of state for Cooperatives Chring Dorjay said in the Legislative Assembly here in connection with the grants to his department (Cooperatives).
"I understand that as many as 2066 such cooperative socities have been registered under J&K Self Reliant Cooperatives Act in the state. But whether or not functioning of these societies was closely monitored by the department and whether aims and objectives of schemes were achieved, has not been seen yet," the minister said.

The Department, as per the information, govern 1673 old cooperatives societies under J&K Cooperative Society Act 1989, which has been revamped.
The minister, who has taken charge of the department after formation of the new government, batted strongly for making the cooperative into a socially relevant for profit initiatives.
"I would like to reiterate the resolve of the government to transform the cooperatives into a socially relevant for profit initiative", Dorjay said.