KOTTAYAM: The Sahithya Pravarthaka Cooperative Society (SPCS), the pioneering cooperative movement in the literary field, has submitted a comprehensive revival package to the Government, said SPCS president Sivaraman Cheriyanadu.

Talking to journalists here on Thursday, Mr. Cheriyanadu said both short-term and long-term projects were on the anvil and priority would be given to wipe off the accumulated losses through sale of property.

As of now, the total financial burden was Rs. 5 crore. He said the cooperative had asset base of Rs.15 crore.

The profits from book sales alone would not suffice to wipe off the accumulated loss. As such, the move was to clear the dues through funds mobilised by way of sale of property.

The SPCS president said negotiations had been held on the sale of the five-acre India Press property at Nattakom. The short-term scheme for revival is a Rs.

77-lakh project aimed at publishing a series of books, including world classics, popular books and works of new writers. Work is progressing on reviving an old package with timely changes, he said.

Debt

Among the major components of the unpaid debt are a loan of Rs. 1 crore taken from Kottayam District Cooperative Bank and arrears in royalty to writers, amounting to Rs. 2 crore.

As part of fund mobilisation in the short-term, the cooperative has decided to bring out the reprint of its flagship publication, `Sabdatharavali,' the premier Malayalam dictionary.

The work by Sreekandeswarom G. Padmanabha Pillai has already sold more than 1 lakh copies.

The 31st reprint will be released at a special function being organised on Saturday. Minister for Cooperation G. Sudhakaran will be the guest of honour.

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