HYDERABAD: The AP State Handloom Weavers’ Cooperative Society Ltd (APSHWCS), popularly known as APCO, has been divided between the two successor states of AP and Telangana with effect from Saturday.
Even as the Sheela Bhide Committee has to take a decision on the division of APCO, the two state governments have decided to divide it on mutual consent.
Accordingly, the Telangana unit will henceforth be known as TS Handloom Weavers’ Cooperative Society Ltd (TESCO) and V Saida will be its managing director.It will have a new logo soon.
Johar Basha will be the managing director of APCO.
According to official sources, APCO and TESCO will cooperate despite becoming separate entities. “If APCO sells its products only in AP, the business will not be much. Same case with TESCO. Thus, APCO items will be sold at TESCO showrooms and TESCO’s at APCO showrooms,” the sources said.
There is a huge demand in AP for blankets and lungis made by Karimnagar weavers. The Dharmavaram and Uppada silk sarees of AP have a similar demand in TS.
According to sources, APCO earned `30-lakh net profit last year and earned `2 crore from online sale in the last one-and-a-half years. “Silk sarees, dhotis and lungis are purchased by NRIs, most of them from US, online,” the sources said.
As per the bifurcation agreement, of the 1,312 societies, Telangana got 600 and AP 700. With regard to showrooms, AP got 131 and TS 53. Of the 26 showrooms located outside AP and Telangana, TS got 11 and AP 15.
“There are five APCO showrooms in Delhi. Three were allotted to AP, two to TS,” Johar Basha said. Of the employees in Hyderabad, 140 were allocated to TS, 210 to AP as per nativity.