Minister for Agriculture and Co-operative System, Ahmed Ali Aulakh, while speaking at the 20th session of Punjab Assembly on Wednesday, stated that on the instructions of State Bank of Pakistan, efforts are being made to reorganise Punjab Provincial Co-operative Bank.
He said that in this regard, professional bankers are being deputed in the bank. He said the bank is giving loans to small farmers on 13 to 16 percent mark-up basis. This mark up, he added, is lesser than other banks and is being given after micro financing. The minister informed that in order to recover loans of the bank, 22,000 cases have been registered, adding that there is no law that permits waiving of loan, and the bank has not waived off loans.
He said that due to the efforts of present provincial government, Rs 1.37 billion of loan has been recovered. Aulakh said efforts are underway for restoration of bank credit line and pointed that he, himself, apprised Governor State Bank of the difficulties the bank is facing in this regard. He disclosed that measures are being taken to reduce board of directors of the bank from 39 to seven. To a query, he pointed that modus of making a co-operative society is given in Co-operative Societies Act 1925(9). He added that an application signed by 50 persons with identity proof is necessary for constituting a co-operative Society.
He further said applicants should be at-least of 18 years age and the application should be approved under Pakistan Environmental Protection Act 1997(12) by relevant authority. To another question, Aulakh said the board of directors of Punjab Co-operative Bank are appointed for three-year period under the bank's by laws. Earlier, in the discussion on flood issues, legislator Khalida Farooq said Rs 16 billion are needed for issuing 8,33,000 Watan Cards. She said that so far, 2,00,000 Watan Cards have been distributed amongst the flood affectees.
She further said 3,800 schools would be repaired and renovated and 975 roads repaired in the flood-hit areas. She apprised that under the rehabilitation efforts, 17,080 model villages would be constructed. Under these efforts, one bag of urea, one bag of DAP and 50 kilo seeds would given to each farmer.
Speaking on the occasion, MPA Asghar Munda asserted on making dams in the country and pointed that this is urgently needed to fulfil energy as well as future water requirements of the country. The legislators also stressed for building Kalabagh Dam in the country, terming it necessary for the country.
A legislator applauded the services of Punjab Chief Minister Muhammad Shahbaz Sharf undertaken for in flood relief, saying the chief minister visited Jam Pur 14 times. Another legislator added that chief minister Punjab, during floods, visited the affected areas 38 times. Certain 'Call Attention Notices' were brought up during the assembly proceedings. Later, the House was adjourned for 9:00 am Friday by the Chair.