CM Bommai pledges Rs 100 crore to form Karnataka Milk Federation bank

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Chief Minister Basavaraj Bommai on Wednesday called on the Karnataka Milk Federation (KMF) to set up a bank and pledged to provide seed capital of Rs 100 crore to build a system that will end dependence on the system.

Bommai was speaking after inaugurating 10 new KMF projects, aimed at further increasing milk production and income for the 14 associated cooperative unions.

“The full potential of the cooperative sector must be realized. Forming a bank will not only end KMF’s dependence on government, but make you a for-profit organization. Besides your income, a bank will also attract external investment. The government will grant a capital of 100 crore rupees to revive the bank, ”he said.

Read also | KMF opens a high-end ice cream parlor under the Nandini brand

The chief minister said KMF has a long way to go in terms of marketing and urged office officials to ensure the product reaches more markets in neighboring states.

Responding to a request from the KMF chairman and MP Balachandra Jarkiholi to increase milk prices, the chief minister said he would take time to make a decision on the matter.

The new facilities inaugurated on Wednesday include a mega milk powder production unit in Ramanagar, two feed production units in Dharwad and Tumakuru, a high-tech farm and a fodder development center in Hesaeaghatta, a laboratory of central trial in Bengaluru, training center in Kalaburagi, feed storage. and other infrastructure in Hassan, corn storage silos in Rajanukunte, a molasses storage center in Shikaripur and a butter freezer storage unit in Challaghatta.

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