COMPANY’s PROFILE

The socialistic system as enriched in the constitution of India is based on the ideals of democracy and
socialism. Only a movement of co-operative can fulfil the need of such an economic and social fabric.
The government of India started this movement in India in 1904 with purpose of freeing the farmers from
the group of money lenders and this movement proved to be a boom for the social and economic
development of entire country.

The co-operative movement in Punjab contributed in Punjab heavily to the agricultural development as
the first step and this resulted in the green revolution due to which Punjab was crowned as the grain bowl
of the country. The co-operative movement has enhanced every aspect of human beings and is directed
towards welfare of mankind.

During the last three years of co-operative movement Punjab has made rapid strides towards
strengthening of co-operative societies which have elected managing committees/BOD and an elected
chairman. There have been efforts to strengthen the capital base of the society with the view ensuring that
its members develop a sense of belonging and have a greater say in the decision making process. There
have been various amendments in the Punjab co-operative societies act ,according to which the terms of
the elected office bearers has been increased from three to five years to ensure that the society remains in
the hands of the elected people.

Punjab today leads the entire country in the recovery of co-operative banking loans. After years of
restlessness and turmoil all the central co-operatives banks including those in the border districts, have
become eligible to avail themselves of the refinance facility from the national bank for agricultural and
rural development (NABARD), under the Non farm sector scheme of NABARD all central co-operative
bank and primary co-operative agricultural development banks have floated new schemes for
advancement of loans to the unemployed youth, this has given a boost in providing employment in rural
areas and has helped people raise their standard of living.

Non loaning is like to be enhanced from Rs. 62500 per head to Rs. 1000000 per head in the near future.
Also this state co-operative bank is likely to start giving housing loans to professional students upto Rs.
50000.
INTRODUCTION TO MARKFED
Markfed came into existence in the month of September 1954 with 13 members, a share capital of Rs.
54000, 3 employees and one bicycle and has today become Asia’s largest marketing co-operative society.

Today, this organisation employs more than 2473 persons, has a network of manufacturing units, service
centres and offices crisscrossing Punjab and its operations spreads around the world.

Markfed is a federation of 3068 members cooperative societies directly representing interest of over one
million farmers.

The factors that have made this rupees 10000 crores giant a magnifies success is its cooperatives structure
in enlightened management, progressive plans and policies, path breaking, a highly dedicated work force
and supreme commitment to the objectives of the cooperative. MARKFD’S success is true reflection of
the spirit and dynamics of the people it represents:- the people of Punjab.
THE MAIN COOPERATIVE SOCIETIES IN PUNJAB
 Markfed
 Sugar mill co-operative society
 Spinfed
 Milkfed
 Industrial co-operative society
 Weavco
 Household

CLASSIFICATION OF MAIN CO-OPERATIVES IN PUNJAB

1. MARKFED

Markfed is asia’s biggest cooperative venture, which helps the farmers in the marketing of their
product through primary co-operative societies. Markfed has 120 branches, 19 agro services centres
and 2500 PAC’S.

Through which it provides quality fertilizers, pesticides and insecticides to farmers. It also work as
government procurement agency and ensures minimum support price for the farmers produce
especially, wheat and paddy during the procurement seasons.

2. SUGAR MILL CO-OPERATIVE SOCIETY

Till 1985 there were only four sugar mills in co-operative sector of Bhogpur, Batala, Morinda and
Nawan Shahar with crushing capacity of 5500 tonnes. In 1985-86 sugar revolution look palce in
Punjab, when steps were taken for setting up of two more sugar mills in co-operative sectors. Today
there are 15 sugar mills in the state that the crushing capacity of 28.350 tonnes. The co-operative
sugar mills in Punjab have the proud privilege to show their best performance through the country.

3. SPINFED

Keeping in view the cotton production in Punjab 7 co-operative spinning mills are operating in the
cotton belt of Malwa region for processing of Narma cotton. Another cotton ginning unit is ready at
Abohar in co-operative sector. Spinfed is the state level apex body of the co-operative spinning mills
assist its members mills, in co-ordination of technical know how and availability of finance.

4. MILKFED

Co-operative movement in Punjab has also played a formal role in the white revolution.
State level Punjab satate co-operative MILKFED, district level milk union and primary milk
producers, co-opeative societies and their member producer. MILKFED has pledged to procure
good milk yielding animals producing fresh and germless milk for the co-operatives. The business
turnover for the year 2009-19 of MARKFD is Rs. 18025 crores.
5.