Kerala - Thiruvananthapuram   

Sudhakaran: big achievements in cooperative sector

THIRUVANANTHAPURAM: Cooperation Minister G. Sudhakaran has said the cooperative sector is continuing its yeoman service to downtrodden sections of society.

In a release here on Thursday, he claimed that the sector, during the time of the Achuthanandan government so far, had extended benefits to the tune of more than Rs.3,850 crore. The role it was playing also reflected the social commitment being displayed by it under the Left Democratic Front (LDF) government.

He noted that the cooperative institutions in the State had foregone interest to the tune of Rs.60 crore enabling the government this week to announce a loan waiver scheme for the traditional fishermen of the State.

The total amount due to the cooperative banks and societies from the beneficiaries of the scheme came to more than Rs.300 crore by way of the principal, interest and penal interest on the loans given.

Instalments

The remaining sum of Rs.240 crore was being provided to the banks and societies by the government under the fishermen's debt relief scheme in instalments.

The cooperative banks and societies had also done a similar gesture in the case of loans extended to the Scheduled Caste and Scheduled Tribe people. Loans up to a sum of Rs.25,000 given to them were written off by the government earlier. Under that loan waiver scheme, the cooperative sector had foregone Rs.30 crore by way of interest to close debts to the tune of Rs.100 crore by accepting Rs.70 crore from the government, Mr. Sudhakaran noted.

He said the cooperative sector had also been liberal in helping the spinning mills functioning at Kannur, Thrissur and Kayamkulam under the Industries Department.

With accumulated interest, the dues from these mills had gone up three to four times of the principal of the loan extended to them by the cooperative sector. Mr. Sudhakaran said a sum of nearly Rs.500 crore was still due to the cooperative banks and societies from various public sector institutions and apex bodies.

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