Cooperative principles ensure economic stability

LAHORE : Punjab Governor Balighur Rahman Saturday stressed the need for forming cooperative institutions to supply fertilizer and seeds to the farmers at lower rates.

Speaking at a seminar here, the Governor said, “It is possible to bring economic stability by following the golden principles of mutual aid”. Mutual aid is about cooperating with each other and moving things forward. Of course, this is a theory of profit, he said.

The seminar was jointly organised by Punjab Cooperative Union and Mir Khalil-ur-Rahman Memorial Society (MKRMS) titled “Economic Prosperity: The Importance and Need of Mutual Aid Movement”.

The speakers at the seminar included Registrar Cooperatives Punjab Ashfaq Ahmed Chaudhry, Chairman Punjab Cooperative Union M Hamir Hayat Khan Rokhri, Dr Arshad Abbasi of Social Work Department, Punjab University, President Punjab Cooperative Bank M Saleem Tahir, Joint Registrar (General) Cooperative Mah Munir and Pattern Chief Model Town Cooperative House Building Society, Sialkot M Khalid Wasim Advocate. Chairman Mir Khalil-ur-Rahman Memorial Society Wasif Nagi conducted the seminar. The Governor said heights can be achieved with cooperation and collaboration, not by an individual. “By forging harmony we gather our strength. Cooperative unions in Punjab are doing better than in other provinces”, he said.

Our farmers are forced to borrow fertilizer and seeds from shopkeepers on usurious loans, he said. More and more cooperative institutions should be formed, so that farmers can buy them at cheap rates, he suggested.

“There is a need for research on the cooperative institutions. Cooperative is such a theory which is very beneficial”, he noted. Ashfaq Chaudhry said every village of Punjab was a self-sustainable unit before the mobilisation of people. “This is how people share their pain and suffering with others’ following the golden principles of mutual aid. We are trying to mobilise the people from deprived sectors”, he informed. Today’s seminar is in the same direction, which we will continue in the future, he said.Dr Arshad Abbasi said the usefulness of mutual aid movement can never be denied. It shows the people way to salvation. The economic problems people are facing in Pakistan can be solved by following and implementing the principles of mutual aid movement, he observed. “The PCU is working for the promotion of its principles with limited resources”, he said. M Salim Tahir said the purpose of establishing the bank was to provide loans to farmers affiliated to cooperative societies. “Our markup rate is the lowest in the banking industry”, he said.

Mah Munir said cooperatives are 1,400 years old, adding, “We are commanded by God to help each other in good deeds, not in evil deeds. We have to keep this spirit alive”. M Khalid Waseem said the Punjab Cooperative Department is the best institution in Pakistan. He regretted cooperative societies are slowly phasing out in the country. Wasif Nagi said, “We can get rid of many difficulties and solve our problems by adopting the basic principles of cooperative movement”. This is universal movement which was started in 1918. Being a provincial institution, the aim of Mutual Aid Union is to work for development, he informed the audience.