Govt will revamp co-operative sector: CM

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Kochi, Oct 28 (UNI) Kerala Chief Minister V S Achuthanandan today said the government was chalking out policies to wipe out corruption and revamp the cooperative sector in the state.

Addressing a gathering after inaugurating the concluding session of the sixth Cooperative Congress here, Mr Achuthanandan said ''the co-operatives are in a crisis as corruption to the tune of Rs 1,000 crore is reported during 2001-2006.'' He said the government would strenghten the audit process of the co-operatives to find out discrepancies in the accounts and fight the menace of corruption in the sector.

Mr Achuthanandan also critcised the 'indifferent attitude' of the centre towards the cooperative sector in the Kerala.

'' The Centre was drafting policies according to the demands of the globalised economy and was giving scant regard for the cooperatives,'' he said.

He said the recommendations of the Vaidyanathan Committee would eventually bring the co-operatives under the control of the Reserve Bank of India (RBI).

''The recommendations to return all government shares, include RBI nominated professionals in the governing body and to vest with the apex bank the power to dismiss a governing body member will work against the democratic principles of the co-operatives.'' Mr Achuthanandan said his government would initiate steps to make sure that the benefits of the co-operatives were reaching the economically oppressed sections of the society.

The co-operatives had a pivotal role to play in the uplift of farmers, fishermen and other traditional labourers as the public sector banks and private banks would not be able to protect their interests, Mr Achuthanandan said.

The three-day Congress, which concluded here with an impressive cultural rally, discussed different topics like impact of various committee reports on the co-operative sector, lack of professionalism in the sector, problems faced by coir, handloom and fisheries cooperatives.


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