Cooperatives Congress pledges to double contribution to GDP in 5 years

KATHMANDU, March 28:

Members and leaders of cooperatives across the country have announced that they will double the contribution of the cooperatives sector to the gross domestic product (GDP) of the country within next five years.

Releasing an 11-point declaration at the closing of three day long First National Cooperatives Congress on Thursday, they also expressed commitment to help economic empowerment and create an egalitarian society by involving more women, youth and other marginalized and downtrodden communities in the cooperatives sector.
The 11-point declaration among others, vows to take initiatives to incorporate the agenda of cooperatives in the new constitution, form a separate mechanism for the regulation of the cooperatives sector and establish cooperatives as the best business model of enterprises.

Likewise, speaking at the closing ceremony of the congress, Prime Minister Sushil Koirala lauded the efforts of the cooperatives sector to the economic growth of the country.

“The cooperatives sector has not only helped the economy grow, but has also strengthened democracy at the grassroots level,” he said.
Nepal Rastra Bank Governor Yubaraj Khatiwada, international and local cooperatives experts, activists, and government officials presented papers in various sessions of the congress.

Source: Republica