New loan norms to be framed : Kuldeep

Shimla, Sept 6 (UNI) Himachal Pradesh Industries and Cooperative Minister Kuldeep Kumar today said new loan norms will be framed to provide the cooperative sector loan facilities.

Presiding over the meeting of H P State Cooperative Council here, he said diversification of its activities in Tourism, Hydro-Power and Small Hydro Electric Projects would boost is activities.

Mr Kumar said 12 Hydel Cooperatives have been registered in the state and Small Hydro Electric Projects upto five MW capacity have been reserved for people of Himachal and for cooperative societies for bonafide Himachal.

Stressing the need for strengthening the cooperative banking, he said the coperatives should present their cases to the government with outstanding loan to wave off their interest.

He said National Cooperative, Development Corporation has providing loan facilities to the APEX Cooperatives of the state, which has given a big boost to the working of the cooperative movements. Integrated Cooperative Development Projects are also being implemented in the state, he added.

It was told in the meeting that 93 godowns of 88 cooperative societies are available in the state and 46 co-operative owned godowns has been hired by the H P State Civil Supplies Corporation.

The Council recommended for providing of Government Guarantee for loans availed by Hydro Cooperatives. The Council decided to recommend to the state government the case of H P Housing Federation for exemption from operation of the provisions of section 118 of Tenancy and Land Reforms Act, 1972.

UNI