Govt increases budget for cooperatives
KATHMANDU, AUG 12 -
The government has increased the budget for infrastructure development of regional bodies under the Department of Cooperatives (DoC) in line with its policy of according priority to the cooperative sector.
According to the DoC, the government has raised the allocation for infrastructure development to Rs 50 million from Rs 20 million last year. The budget for capacity building has also been enlarged to Rs 21 million from Rs 19.2 million.
The budget allocated to the divisional cooperative office in Chitwan amounts to Rs 16.2 million while the offices in Sunsari and Kaski received Rs 12.1 million and Rs 9.8 million respectively. Similarly, the offices based in Banke and Kailali have been allocated a budget of Rs 11.9 million and Rs 9.9 million respectively, according to the DoC.
Bishnu Prasad Ghimire, under secretary at the DoC, said the department had not been able to regulate cooperatives properly due to lack of adequate infrastructure. The government has earmarked Rs 472.2 million in total for the DoC this year.
Of the total budget, 17.2 percent has been allocated for capacity building of cooperatives while 53.3 percent has been set aside for different cooperatives to operate businesses including cold storage, tea production, establishment of agriculture firms, women cooperatives and processing of products like tea, coffee, honey, orange, ginger and cardamom, according to the DoC’s programme for next year.
Similarly, Rs 10 million has been allocated to the National Cooperatives Federation and Rs 5 million each to the 13 central level cooperatives unions.
There are more than 22,600 cooperatives in the country. They have invested more than Rs 105.5 billion out of their total deposit base of Rs 122.1 billion as of mid-April. Similarly, around three million members are associated with these cooperatives.
Source: Kantipur
The government has increased the budget for infrastructure development of regional bodies under the Department of Cooperatives (DoC) in line with its policy of according priority to the cooperative sector.
According to the DoC, the government has raised the allocation for infrastructure development to Rs 50 million from Rs 20 million last year. The budget for capacity building has also been enlarged to Rs 21 million from Rs 19.2 million.
The budget allocated to the divisional cooperative office in Chitwan amounts to Rs 16.2 million while the offices in Sunsari and Kaski received Rs 12.1 million and Rs 9.8 million respectively. Similarly, the offices based in Banke and Kailali have been allocated a budget of Rs 11.9 million and Rs 9.9 million respectively, according to the DoC.
Bishnu Prasad Ghimire, under secretary at the DoC, said the department had not been able to regulate cooperatives properly due to lack of adequate infrastructure. The government has earmarked Rs 472.2 million in total for the DoC this year.
Of the total budget, 17.2 percent has been allocated for capacity building of cooperatives while 53.3 percent has been set aside for different cooperatives to operate businesses including cold storage, tea production, establishment of agriculture firms, women cooperatives and processing of products like tea, coffee, honey, orange, ginger and cardamom, according to the DoC’s programme for next year.
Similarly, Rs 10 million has been allocated to the National Cooperatives Federation and Rs 5 million each to the 13 central level cooperatives unions.
There are more than 22,600 cooperatives in the country. They have invested more than Rs 105.5 billion out of their total deposit base of Rs 122.1 billion as of mid-April. Similarly, around three million members are associated with these cooperatives.
Source: Kantipur
