Full transparency in functioning of multi-state cooperative NCEL: Govt in RS

New Delhi, Dec 3 (PTI) The government on Wednesday asserted in Rajya Sabha that there is full transparency in the functioning of National Co-operative Exports Ltd (NCEL) and the annual report is being placed on the table of the Upper House.

NCEL is jointly promoted by Gujarat Cooperative Milk Marketing Federation (GCMMF), popularly known as AMUL, Indian Farmers Fertilizer Cooperative Limited (IFFCO), Krishak Bharati Cooperative Limited (KRIBHCO) and National Agricultural Cooperative Marketing Federation of India Limited (NAFED).

Besides, the National Co-operative Development Corporation (NCDC), a Statutory Corporation under the Ministry of Co-operation, is one of its promoter members.

While replying to supplementaries during Question Hours, Minister of State for Cooperation Murlidhar Mohol said the annual report of the NCEL is placed on the table of this House, and there is full transparency.

He was responding to a query by TMC member Saket Gokahle, who wanted to know whether the ministry would frame a code of conduct to bring transparency in the NCEL. The TMC leader was referring to Rs 2,673.54 crore related party transactions in NCEL since its inception.

Mohol highlighted that there are 15,705 co-operative society members of the NCEL. Out of the total membership, more than 4,000 are from Gujarat. These members are getting dividends.

The minister also pointed out that the NCEL has got least response from West Bengal in the membership.

"NCEL and NCOL are multi-state cooperative societies registered under the Multi-State Cooperative Societies Act, 2002, on January 25, 2023. Since inception, NCEL has made related party transactions of Rs 2,673.54 crores, 99.8 per cent of which pertain to the procurement of agri-commodities by NCEL for exports," the ministry said.

Since its inception, National Co-operative Organics Ltd (NCOL) has made related party transactions of Rs 2.97 crores, being the expenditure incurred by its promoter organisations on its behalf. The same was subsequently reimbursed by the NCOL and the sales. PTI MJH MJH MR