Kanam Flays Coop Bank's Decision

Published: 02nd August 2015 04:50 AM  |   Last Updated: 02nd August 2015 04:50 AM   |  A+A-

THIRUVANANTHAPURAM: District co-operative banks’ decision to withhold financial support to cooperative societies for Onam markets will lead to price hike during Onam season, CPI state secretary Kanam Rajendran has said.

Criticising the decision, CPI has demanded the urgent intervention by Chief Minister Oommen Chandy in the matter.

He pointed out that this decision was in the knowledge of the state government. “In the previous years, the government used to convene meetings of officials with the cooperative and food departments before Onam. However, the procedure was not followed this time,” he said.

“An amount of Rs  596.12 crore is already pending to Supplyco from the government. And there’s a shortage of supplies in ration shops. If the government continues with its present policy, it will lead the traders to increase prices,” he added.


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