SRINAGAR: In a meeting held at the office of Registrar of Companies J&K and Ladakh, Haamid Bukhari, Officiating ROC-cum-OL highlighted the importance of FPOs in formalization of the agrarian economy and emphasized on the potential scope of such body corporates in generating benefits for its members.
An official statement said that based on the recommendations of the Alagh Committee in 2002, a separate category of Companies primarily for benefiting producers was created. Recently this category of Companies is also given recognition in Companies Act 2013.
“These companies adopt all the good principles of cooperatives and the efficient business practices of companies,” said the statement.
“ROC office has devised plan to promote awareness about Farmer Producer companies district wise taking Government of J&K in the loop,” it said.
ROC office is already in touch with JKEDI and very shortly the promotion campaign will begin. The office has began the process of studying successful models of such companies across the country and steps would be taken to emulate them to harness the benefits of scale for producers in J&K, it added.
A farmer producer company can be formed by 10 or more primary producers and activities undertaken relates to Production, harvesting, procurement, grading, pooling, marketing etc of agricultural produce. The campaign holds importance at a time when e-NAM has already taken a successful shape connecting mandis across the country, said an official statement.