Consumerfed looks at Rs 700 cr turnover

Kochi, Sep 8 (UNI) Stating the Kerala State Co-operative Consumers' Federation Limited (Consumerfed) has begun making profits in the last two years, Consumerfed Managing Director Rigi G Nair said the federation was aiming to clock Rs 700 crore turnover this fiscal.

Addressing a press conference here on Saturday, Mr Nair said "the federation made a profit of Rs 14 crore in the last two years for the first time in 40 years. We are aiming to have a turnover of Rs 700 crore this fiscal from Rs 572 crore last year.

"By giving due importance to service, Consumerfed was providing high quality products through its outlets at a reduced rate and it has helped in controlling the prices of essentials in the market," he noted.

Mr Nair said under the State Government's direction, the federation was working on a war-footing to start fair price shops-- 'Triveni'-- in all Assembly constituencies.

Besides, the National Co-operative Development Corporation (NCDC) had sanctioned Rs six crore to start 25 megamarts and Rs four crore to open around 50 fair price medical stores across the State, he said.

In order to impart professional training in retail management,the Consumerfed would start a 'Triveni Institute of Management Studies' in the State.

Consumerfed would also open 'e-triveni' business centres at a cost of Rs 20 lakh each at various places in the State, he noted.

"The aim would be to provide internet browsing, STD and ISD facilities, mobile recharging and other facilities to the customers," Mr Nair said.

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