LAHORE, Dec 14: Punjab Cooperatives Minister Malik Mohammad Anwar has said the Cooperative Societies Act 1925 is being amended to check its misuse by housing societies and making the societies responsible for a solution to problems faced by plot owners.
Talking to a delegation of allottees of plots here on Tuesday, the minister said the process of amendments to the act was nearing completion, and it would soon be presented in the provincial assembly for legislation.
He said no society would be able to misuse the law after its amendment. The government had also decided to conduct annual audit of the accounts of cooperative housing societies besides ensuring holding of elections of all societies in the province on a fixed date every year.
He said the cooperative societies were being barred from undertaking or allowing any kind of construction on the plots earmarked for mosques, playgrounds, parks and graveyards in their housing schemes. The societies would also be required to complete the development of housing schemes within a specified period.
Heavy fines would be imposed on the societies allowing misuse of public utility plots and failing to provide the promised facilities to the buyers of plots. He said the government would soon launch a scheme for the construction of houses and flats for low-income groups with the cooperation of cooperative housing societies.
