Andhra Pradesh - Srikakulam   

Good days ahead for coop. societies

Special Correspondent

Srikakulam: Good times seem to be ahead for the 163 Primary Agricultural Cooperative Societies (PACS) in the district, which are under the control of the District Cooperative Central Bank with accumulated losses of Rs.87.44 crore.

The Vaidyanathan Committee had made certain recommendations for the revival of PACS, which had been incurring losses, and as per its recommendations, the Centre and the State would bear Rs.75.01 crore and Rs.2.70 crore respectively and the remaining amount of Rs.9.73 crore would be borne by the PACS in the district. The District Level Implementation Committee which met here on Tuesday approved these recommendations and decided to send to the same to the State Level Implementation Committee for approval which, according to officials, is a mere formality. Funds are likely to be available by the end of March.

Collector,V.N.Vishnu who presided over the meeting today, urged all concerned to take advantage of the opportunity to revive PACS which would play an important role in providing credit in the rural areas.

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Good days ahead for coop. societies

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