the goan I network
BICHOLIM
Chief Minister Pramod Sawant has said the govt has planned to bring amendments in the Cooperative Act in the forthcoming assembly session to prevent cooperative societies from going into losses.
Dr Sawant was addressing a function of Vividha Urban Cooperative Credit Society at Sonar Peth, Bicholim.
“People have been losing faith in the cooperative sector due to involvement of some selfish people, while some existing acts in this sector are negative and these are some causes which are leading cooperative societies towards losses. The State government has plans to bring about amendments in the Cooperative Act in the forthcoming assembly session,” said Sawant.
The chief minister, however, admitted that there were people who have been making efforts to take the cooperative sector to greater heights.
“But at the same time, there are people who are bent on not repaying loans of banks, thus pushing the banks into losses. Some people do not hesitate to invest their amounts in insecure banks to earn a high interest. In order to avoid these issues, there is a need to change the existing cooperative act,” said Sawant.
Others present at the function included Chairman of Vividha Urban Cooperative Credit Society Pratap Gawas, Vice Chairman Digambar Naik, directors Prakash Maulingkar, Laxmikant Parab, Devanand Parab, Chandrashekhar Desai, Ramesh Sinari and Suresh Gawas, Managing Director Tulshidas Ghadi, BMC Chairperson Rajaram Gaonkar and Latambarcem ZP member Sanjay Shetye.
