The agri cooperative-Nacof organized its 14th Annual General Meeting on Wednesday at the NCUI headquarters and pledged to take the organization to newer heights by diversifying its business in other fields.
Recently, Nacof entered into the business of Millets to fulfil the dream of Prime Minister Narendra Modi and established a seed division in its branches for production and marketing of seeds in the brand name of Nacof. Besides, the agri cooperative planned to take up the central government schemes.
During the meeting, Nacof announced a 10 percent dividend for its shareholders.
Addressing the AGM, Nacof founder Chairman Ramiqbal Singh said, “We have achieved a sales turnover of Rs 2209 crore and earned a net profit of Rs 7.83 Crore (after tax). This could only be possible by the continued and unwavering support given by the State Govt. Departments and Member Cooperatives’ ‘, he said amidst cheers from the participants.
He further added, “NACOF has entered into a new line of business of Millets as the vision and dream of our Hon’ble Prime Minister to popularize the Super Food Shri Anna (Mota Anaj) throughout the Nation”.
“The Seeds Division has been established in the branches of NACOF for production and marketing of Seeds in the brand name of NACOF in association with Business Associates. NACOF have entered into Agreements with the departments as well as with the business associates for executing the orders of the departments as per their terms & conditions in various fields like PM-DAKSH, FPO, Solid Waste, Agriculture, Horticulture, FSTP/MRF (U.P.), Procurement and Supply of Paddy/Rice etc”, Singh informed.
Besides, NACOF is also focusing on the Kusum Scheme announced by the Govt. of India. At present NACOF has a handful of projects of 500 MW under the PMKVY Scheme in Maharashtra and another 506 MW under the Kusum Scheme in Maharashtra. Some of the other Solar Projects in Rajasthan, Uttarakhand, Uttar Pradesh are in the pipeline, he added.
The AGM registered the participation of Bihar Minister for Revenue & Land Reforms Alok Kumar Mehta, Former Chief Secretary UP R K Tiwari, Sahakar Bharati National President D N Thakur, Mukesh Kumar, MD, Kendriya Bhandar, NCUI Deputy CE Savitri Singh, IFFCO Director Amit Pratap Singh, Ranjit Singh and others.
In his speech, Mehta lauded the efforts of Nacof in general and Ramiqbal Singh in particular for registering growth year after year. “Cooperative has the power to generate employment opportunities and its model is very unique. But, due to a lack of professional approach, the movement is not growing well. There is a need to establish professionalism in co-ops. Besides, co-ops should engage themselves in social activities.”, the Bihar Minister added.
Addressing the participants, Tiwari encouraged the co-ops to enter the business of organic farming and also take the benefits of initiatives launched by the Union Ministry of Cooperative recently. There is a huge scope of co-ops in making a world ‘s largest food grain storage through the cooperative sector.
Sunil Khattri anchored the event successfully.
