AIADMK coordinator O. Panneerselvam on Wednesday complained that the State government had not yet issued an order, allocating funds towards interest outstanding on waived jewel loans, belonging to primary agricultural cooperative societies.
In a statement, he recalled that when the government issued an order in November last year permitting the waiver of jewel loans to only 13 lakh beneficiaries, leaving out 36 lakh persons, it was stated that the government would bear the interest on such loans for the period from April to November.
In the meantime, there had been demands from associations representing staff of the societies that the government pay them in advance, the amount of the loans waived. Pointing out that as soon as the waiver of loans was announced, those who had been paying interest on jewel loans had stopped doing so, the associations had conveyed that the societies were running their activities on the basis of income generated through the payment of interest by loanees. They had also wanted the government to absorb the burden of the interest outstanding on such loans till date.
Mr. Panneerselvam called upon Chief Minister M. K. Stalin to intervene in the matter and have an order issued, providing funds for the interest on the waived loans.
