Punjab: No Markfed gifts on Diwali for politicians

Chandigarh, November 1

Markfed has abolished the Diwali-gifts quota for all officers and politicians, keeping in line with its efforts to maintain fiscal prudence. Each year, the cooperative was spending Rs 50 lakh on Diwali gifts.

Markfed Managing Director has issued a circular saying that Markfed being a public entity, it is their responsibility to ensure financial prudence and the exercise of gifting should be co-related to the interests of Markfed.

“The impact on sales, as a correlation to the gifts should be immediately analysed. Just to send gifts to all government dignitaries/officials, again as a matter of routine, does not necessarily benefit Markfed, unless we are able to earn customers/ seek interests of Markfed,” the circular reads.