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About Punjab Markfed
Markfed began it's operations in 1954 with 13 members and a share capital of 6,000 USD. Today, it has grown to become the largest marketing co-operative in Asia with an annual business turnover of over Rs. 10671 Crores with nearly 2,710 employees and 20 industrial units.
At present, about 3069 member societies (2903 PACS and 166 CMS.) are it's members. Markfed has emerged as a very solid and stable organisation committed to the service of the farmer community of the State of Punjab.
Markfed has been awarded National Productivity Awards in various fields like co-operative marketing activities, food processing, cattlefeed production etc., to name a few.
Several innovative incentive schemes have been introduced for the benefit of the farmers and the member co-operative societies. Markfed has also introduced an insurance scheme which provides compensation in case of accidental death or permanent disablement of its farmer members.
Markfed contributes to research & development through the Punjab Agricultural University, Ludhiana (Punjab). It also sponsors the weather forecast on India's National TV channel telecast for the benefit of the farmers.
Markfed has been regularly distributing its profits as dividend to its members, contributing to co-operative development and the Common Good Fund. A fair amount is also re-invested in the setting up of new projects, modernisation and diversification of existing plants.
Markfed is also looking for collaboration, technical know-how, high-tech processes, joint ventures, domestic and export oriented units with buy-back arrangements in the international market in all associated fields of interest. |
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