Southern States - Kerala   

Talks to bring FACT into coop. sector

By Our Special Correspondent

THIRUVANANTHAPURAM JUNE 10. The Chief Minister, A. K. Antony, and the Minister for Cooperation, M.V. Raghavan, on Monday held preliminary discussions with senior officials of the Indian Farmers and Fertilizers Cooperative Limited (IFFCO) regarding transfer of Fertilizers and Chemicals Travancore (FACT) into the cooperative sector.

The proposal is for formation of a cooperative society to acquire controlling shares of FACT and run the factory upon the Central Government disinvesting 51 per cent of its shares in FACT. The IFFCO and State Cooperative are to invest in the new cooperative.

Later, the Minister held discussions with the trade unions on the proposal with the president of the State Cooperative Bank, K.R. Aravindakshan. The Unions, who included those belonging to the Save Fact Action Council and the Officers' Federation, welcome the proposal.

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