Bandipora Cooperative Societies record Rs 4 Cr business in 3 quarters

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Srinagar

Department of Cooperatives in Bandipora has recorded a brisk business of Rs 4 crore at the end of the third quarter this fiscal thus showing a sign of upward growth from past few years.

Giving details about the business in three quarters ending December, Deputy Registrar Cooperatives Sheikh Bashir Ahmad said that the Cooperative societies distributed 7.73 lakh litres of Kerosene amounting Rs 1.65 crore and 3721 Quintals of Sugar amounting Rs 1.57 crore.

The Societies have acted as the major contributor to meet the demand of poultry in Bandipora market by supplying 38000 poultry birds to the market amounting Rs 7.60 lakh.

Besides, the Societies have also recorded profit in Fertilizers business by selling 1090 bags of Urea, 630 quintals of DAP and 30 Quintals of MOP.

The Deputy Registrar said there are four Cooperative blocks in the district with 20 fully functional societies having 23043 members. He said the Societies did a business of Rs 3.58 crore during the last financial year but this year the societies witnessed an increase in business and recorded Rs 4 crore business in only 9 months. He hoped that the Cooperative societies will witness a record business and profit this year.

While stressing on the members of Cooperative Societies to work religiously to make cooperative movement a grand success, he said that all the functional Cooperative Societies are running on profit and hoped that the growth trend will remain steady.

He said that efforts are underway so that Cooperative Societies transform keeping in view the market demands and adopt innovative ways in business by thinking beyond selling Sugar, Kerosene and fertilizers. He said there are several other trades in which the societies can invest and do a profitable business.

He said there is a need to meet the challenges of the contemporary market that will help Societies to register upward growth in future.

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