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Most PACS weighed down by losses
The district, despite securingmany awards for execution of MNREGA works, is nowhere when it comes to primary agricultural cooperative societies PACS There are 45 PACS in the district, having as many as 1,40,000 farmers as members The societies are losing their prominence gradually as they are not serving the purpose of extending financial aid to the farmers
Vikarabad: The district, despite securingmany awards for execution of MNREGA works, is nowhere when it comes to primary agricultural co-operative societies (PACS). There are 45 PACS in the district, having as many as 1,40,000 farmers as members. The societies are losing their prominence gradually as they are not serving the purpose of extending financial aid to the farmers.
A PACS body comprises president, vice-president, and five directors. They are elected by member-farmers. The administrative body has to work with officials concerned for the progress of society. It is learned that general body meetings are convened only 2 to 3 times a year. Lack of cooperation from members and officials’ laxity are mainly behind lackluster performance of PACS.
Farmers who are taking loans from cooperative banks are not repaying them on time. As a result, other members have to depend on commercial banks and private loans. A society from Tandur Mandal has a debt of almost Rs 2 crore.Officials sent notices to recipients and threatened to seize the assets, but the farmers failed to pay heed. This sort of instances caused the district to slip in rankings.
Several societies have assets in form of buildings and lands. Officials are not utilising properly, with the result that they are lying idle. Farmers urge officials and administrative bodies to take immediate measures to ensure the progress of societies.
Societies have to search for ways and means for development. A society in Tandur mortgaged gold and is generating Rs 4 crore profit for a year.
A lot of people are showing interest in taking gold loans as they get loans at interest and are sanctioned in less time as compared to bank loans.
Finally, it is cumbent upon those who have taken long-term loans to repay them within stipulated time, so that more farmers will be benefited.
