Centre has taken measures to ensure PACS do not become financially sick: Amit Shah

AHMEDABAD: Union Minister Amit Shah on Sunday said the Centre has taken measures to prevent registered PACS from becoming financially sick and will soon bring a policy for their quick settlement in case they have gone into liquidation and for registration of new PACS in their place.

The Union Minister of Cooperation said the Narendra Modi government aims to set up two lakh new Primary Agricultural Credit Societies (PACS) by 2029, and they are being connected to 22 different types of businesses, with arrangements being made to ensure registered PACS do not become financially sick.

“The work of connecting 22 different types of businesses with PACS has been done by the Union government, and I am sure arrangements have been made to ensure not a single registered PACS becomes financially sick in coming times,” Shah said at ‘Sahkari Mahasammelan’ organised here to mark the International Year of Cooperatives. PTI