Leh co-op earns profit

Leh, Apr 1 (UNI) The Leh Cooperative Department, has earned a net profit of Rs.28.69 lakh during 2005, the very first year of its operation after regularising sea-buckthorn trade in the Ladakh region of Jammu and Kashmir.

The Department, which regulates the trade in the district produced 1.18 lakh kg of pulp and paid Rs 32.85 lakh to the farmers at the rate of Rs 15 per kg as cost of raw material of sea-buckthorn during the period. It also earned a net profit of Rs 28.69 lakh during the year.

This was disclosed in the meeting of Panchayat members of the Hill Council today.

For systematic extraction of sea-buckthorn and to make this business more remunerative, the Council, Leh has formulated a policy in May 2005 to provide business opportunity in this sector to cooperative societies of hilly areas with the involvement of their Gram Panchayats.

UNI RKS PK HS1516