LAHORE: Strong cooperative institutions can bring a change in country resulting sustainable economic development. The concept of Cooperative Movement is not new but as old as human civilisation.
These views were expressed by the speakers at a seminar on “Role of Cooperative Movement in Economic Development” under the aegis of Punjab Cooperative Union and Mir Khalil-ur-Rahman Memorial Society (MKRMS), Jang Group of Newspapers.
Provincial Minister for Cooperatives, Punjab Malik Muhammad Iqbal Channar and Chairman District Council, Mianwali, Gull Hameed Khan Rokri were chief guests on the occasion. Secretary Cooperative Punjab Muhammad Shehryar Sultan (Sitara-e-Imtiaz) presided over the seminar while Punjab Cooperatives Registrar Zulfiqar Ahmad Ghumman was the guest of honour.
Guest speakers at the seminar included president/CEO Punjab Provincial Cooperative Bank Muhammad Ayub, Punjab Cooperative Union senior cooperative director Manzoor Ahmed, National Supply Cooperative Corporation (Limited) president Muhammad Khalid Waseem Advocate, Cooperative Societies Lahore Deputy Registrar Furrukh Hayat Punnu, Punjab Cooperative Union Senior Vice-Chairman Sajawal Ali Waseem and PCU Vice-Chairman Anees Ahmed Khan Siyal.
Malik Muhammad Iqbal Channar said cooperative movement can minimise the public problems. He called for the implementation of the suggestions in real sense to put country on road to progress. There is a need to strengthen these institutions, he said, adding that Chief Minister Shahbaz Sharif has always stressed on institutions' development. Muhammad Shehryar Sultan appreciated the role of Punjab Cooperative institutions and invited public suggestions to amend Cooperative Act 1925. Speaking on the occasion, he said sincere efforts will bring success for cooperative movement.
Zulfiqar Ahmad Ghumman said cooperation with one another is a basic rule to run mutual business which leads towards equality. Farmers have a pivotal role in our economy, he said. In agriculture sector, farmers role is basic and they can form cooperative committees to play their role in economic development.
Muhammad Ayub said the role of cooperative societies can change the fate of the farmers. It is dire need of hour to create awareness among people. We struggled to modernise the Cooperative Banks. The cost of tractors was brought down. Banks will default if our farmers don’t take loans. The current ratio of bank default is 20 percent.
Manzoor Ahmad said the concept of mutual cooperation is as old as human civilisation. Cooperation is a human behaviour. He demanded the government to separate department of Cooperative Registrar for housing for registration and welfare of housing societies.
Khalid Waseem Advocate demanded that the sector must be tax-free. Agriculture sector is the backbone of the country’s economy so the government needed to provide maximum facilities to them.
Nawab Anees Ahmad Siyal delivering the welcome address, said the cooperative societies have been ruling in other countries. He demanded the government to pay much heed to cooperative societies and Cooperative institutions be exempted from income and property tax. He also called for lifting of ban on registration of societies.
Farrukh Hayat Punno said that in Malaysia, Cooperatives are exempted from tax whereas in our country, societies pay taxes of millions of rupees. He said, societies have deposited Rs1.200 billion during last years. Muhammad Arshad Jilani, Wasif Nagi Senior Editor and Chairman MKRMS of Jang media group also addressed the seminar.
