“The collaboration of the Indian Oil Corporation (IOC) and the Cooperation Department, Punjab augurs well for the cooperation sector as the latter possesses immense potential waiting to be richly harnessed to ensure the economic turnaround of Punjab.”
These views were expressed here today by the Cooperation Minister, S. Sukhjinder Singh Randhawa on the occasion of handing over of Letters of Intent (LOI) by the Indian Oil Corporation regarding setting up of IOC retail outlets at Gurdaspur, Nakodar and Bhogpur Cooperative Sugar Mills.
The minister further said that the Cooperation sector is fast emerging as the game changer world over in strengthening the economic infrastructure and the handing over of Letters of Intent today would lead to the augmenting the income of the cooperation sector institutions of the State with Markfed, Milkfed and Sugarfed being able to sell their products at these outlets.
It is worth mentioning that an MOU had been signed recently between the Cooperation Department and the Indian Oil Corporation for setting up retail outlets on the surplus vacant land available with cooperative institutions.
That was the first such MOU with Cooperation Department of any State in India. It entailed construct facilities for these outlets by the Indian Oil Corporation. The Letter of Intent with regard to the Morinda Sugar Mill has already been issued.
Among others present in the meeting included the MLA (Faridkot) Mr. Kushaldeep Singh Kiki Dhillon, MLA (Jalandhar Cantt.) Mr. Pargat Singh, General Manager Indian Oil Corporation Mr. Amarendra Singh, & Deputy General Manager Mr. Tahseen Riyaz, Registrar Cooperative Societies Mr. Vikas Garg, Managing Director Markfed Mr. Varun Roojam, MD Sugarfed Mr. Devinder Singh, and Deputy Chief Engineer Sugarfed Mr. Kamaljit Singh.