More than 10 Lakh farmers associated with around 3,500 cooperative societies will be benefited as the Punjab government on Thursday decided to provide various types of oil, grease and other lubricants.
An Memorandum of Understanding (MoU) has been signed between Hindustan Petroleum and Markfed in this regard on Thursday in the presence of the Punjab Cooperation Minister Sukhjinder Singh Randhawa.
Under the MoU, it was agreed to provide various types of oil, grease and other lubricants to the farmers of Punjab under a joint logo of the Hindustan Petroleum and Markfed for their machinery, said an official spokesperson.
The unique feature of the MoU would be that the lubricants would be made available to the farmers in villages through cooperative societies, added the spokesperson.
Cooperation Minister, Sukhjinder Singh Randhawa said that Cooperation department is connected with more than 10 Lakh farmers in the state through the well laid out network of more than 3500 primary cooperative societies.
He also said that when these top quality lubricants on affordable rates would reach the cooperative societies of the villages then there would be no need for the farmers to go to the cities.
He also said that this initiative by Markfed would be a milestone in setting up Markfed on the road to financial prosperity.
Randhawa further elaborated that in order to strengthen the financial condition of the cooperative societies, the Markfed has been directed to make available the products of other reputed companies.
Meanwhile, the Additional Chief Secretary (Cooperation) D.P. Reddy said that the Markfed should also go in for an agreement regarding the sale and marketing of its edible products through the retail outlets of Hindustan Petroleum.