Cooperative purchases vehicle to market goods

 THE Musunat Cooperative Society made up of more than 2000 members from Madang district has been given a truck for its marketing operation.

The society’s chicken farmers have extended business activities into selling cash crops and marine products in the highland markets.

Outgoing Madang district administrator Lawrence Pitor said Musunat began transporting coconuts, bettle nuts and fish to agents in Kerowagi, in Simbu, and Mt Hagen.

Pitor said they began business in October last year and saw that the turnover was excellent.

Society chairman Frankiey Duadak said they traded 10,000 dry coconuts and one tonne of fish and were pleased with the outcome.

They decided to purchase a truck to cut down on vehicle hiring costs.

Duadak said their loan with the Nationwide Micro Bank two weeks ago was approved.

Bank loan officer Georgina Niangu said the vehicle cost K111,930.

Bank branch manager Kupa Besi said the bank’s aim was to help small business groups and individuals.

The cooperative’s profits will be shared equally among its 2000 registered farmers. Pitor said the cooperative was the way forward for small business people.