Govt all set to formulate new Cooperative Act


Jammu: The Jammu and Kashmir government has decided to formulate a new Act to strengthen and revive cooperative sector in the state, Minister for Cooperatives, Chering Dorjay informed the Assembly today.

He was replying to the discussion on Demand for Grants of Cooperatives, Ladakh Affairs Department.

Dorjay said cooperative movement aims at all round economic and social development of small and marginal farmers, artisans and other societies through its operations and the present government is introducing various initiatives to strengthen and revive this important sector.

“This (new) uniform Cooperative Act will combine the existing J&K Cooperative Society Act 1989 and Self Reliant Cooperative Act 1999, while keeping the democratic and autonomous character of the cooperative societies and cooperative banks intact,” he said.

No elections were conducted for the cooperative societies for the last 10 years, he noted.

“I am happy to announce that election to primary and secondary cooperative societies in all the 3 regions of the state have been successfully conducted by the department,” the minister informed.

He said the government is coming up with a big structural reform scheme for cooperative banks which was elaborated in detail by the finance minister in his budget speech.

The present 3-tier structure of banks will be restructured to 2 tier by merging the district Central Cooperative Banks and SCARD Bank and J&K State Cooperative Bank.

This bank will be linked to panchayats and a professional board will manage the bank till it is put on track, he added.

To give push to the cooperative movement in the state, focused awareness creation programmes are being undertaken, the minister informed.

Dorjey said Jammu and Kashmir Milk Producers Cooperative Ltd (JKMPCL) is doing well in terms of business turnover and presently about 18500 litres of milk per day are processed and supplied under the brand Snowcap .




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