Govt proposes to amend Cooperative Act in next Assembly session

Team Herald 

PONDA:  In next Assembly session, the government proposes to make an amendment to the Cooperative Act to curb malpractices and prevent duping of investors by scamsters. 

This was declared by Chief Minister Pramod Sawant and Cooperation Minister Govind Gaude during the 67th Cooperative Week celebration programme at Sahakar Bhavan, Curti.  Ponda MLA Ravi Naik, PMC chairperson Vishwanath Dalvi, Goa State Cooperative Bank chairman Ulhas Faldesai, RCS Arvind Khutkar, officials of various cooperative organizations and resource persons from cooperative sector were present.

Chief Minister Pramod Sawant advised investors not to invest money in banks/societies just by looking the photos of MLA/minister that inaugurated them. 

He asked the investors to first verify credibility of the directors of bank and societies and then invest their hard-earned money. 

He cited an example of Visionary Urban Cooperative Society wherein its investors are in trouble and struggling to recover their money.

Gaude said, “Taking serious note of this and to curb such malpractices, the government is coming out with an amendment to Cooperative Act to protect the money of investors and at the same time to ensure that the guilty are punished.”   

The Chief Minister said the government would come up with the proposed amendment to the Cooperative Act in the next Assembly session. Sawant stressed the need for skilled staff in cooperative sectors and urged stakeholders to strengthen the cooperative movement by training at least 250 youth each year. 

He directed them that instead of merely celebrating Cooperative Week each year they should set different targets and achieve them before the next annual week.

Urging the farmers to make Goa a self-reliant by producing vegetables and milk, the chief minister called upon them to invest their hard-earned money in the co-operative sector.

Stating that government is committed to human development, he said everyone in the cooperative sector should help the widows or helpless citizens to increase their monthly income especially those living below poverty line. 

He said widows are fully dependent on government pension. Besides this, the poor need help and the people from cooperative sector help them improve their financial condition via government schemes.

Ravi Naik called upon the government to provide protection to people who have lost their hard-earned money with regards to fake financial institutions.

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