Gangtok (PTI): The Sikkim State Cooperative Supply and Marketing Federation Ltd (SIMFED) has reported a rise of 200 per cent in its profit at Rs 240.95 lakh in the financial year 2008-09, according to its Chairman Girish Chandra Rai.
Indicating its strong financial health, the SIMFED has decided to give a dividend at the rate of five per cent of the share value to the shareholders this year, he said here at the annual general meeting of the state-owned cooperative body.
The divident this year would be the highest in the history of SIMFED, Rai said and urged all shareholders to work hard to meet the target of marketing of agriculture, floriculture and horticulture produces to the tune of Rs. 250 lakh in the financial year 2009-10 as against the corresponding figure of Rs. 41 lakh last year.
Announcing the proposed programmes for marketing of the local produces, he said that the SIMFED has decided to set up retail outlets at Gangtok, Namchi and Jorethang to sell local produces, while a vegetable retail outlet will be set up at Lal Bazar market here to market local vegetables at reasonbale prices.
Rai also lauded the role of the Chief Minister Pawan Kumar Chamling in promotion of the retailing business of SIMFED in the state and outside and said that with his blessings the apex cooperative body will grow from strength to stregth in years to come.
