Minister expresses concern over PACS' mounting losses

Punjab's Cooperation Minister Sukhjinder Singh Randhawa today expressed concern over increase in losses suffered by primary agriculture cooperative societies (PACS) in the state.

Presiding over a meeting with the secretaries/ representatives of PACS here, the minister expressed his concern over the increase in losses of PACS.

He said that out of 3,548 PACS, 40 per cent were in loss as on March 31, 2018.

He emphasised 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, an official release quoting him said.

On the occasion, Managing Director, Punjab State Cooperative Bank S K Batish gave a presentation before the minister and suggested measures for the viability of PACS.

Batish suggested 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.

Randhawa constituted a committee, which will give its recommendations to revive the PACS.