Decision to this effect was taken by the Punjab Chief Minister Parkash Singh Badal as he gave nod to the proposal mooted by the cooperation department, a spokesman said here.
The policy stipulates that the income generated on account of sale of land and building held by the cooperative institutions would not be utilised on the routine expenditure like disbursement of salaries to its employees.
In case any cooperative institution or organisation was in the winding up mode, the proceeds could be utilised accordingly within the prescribed rules and regulations, the spokesman said.
