Leader Nembang lauds cooperatives role

KATHMANDU, DEC 16: 

CPN-UML leader Subash Chandra Nembang has said cooperatives sector had made a significant contribution to the nation's economic development with the government's three-pillar economy.

Speaking at the fifth annual general meeting of the Pabasa Saving and Credit Cooperatives here on Saturday, leader Nembang claimed that the awareness about cooperatives following the people's movement II and the legal recognition to this sector in the recent years have helped intensify economic and social developments in the country.

Also the former chairman of the dissolved Constituent Assembly, leader Nembang said entire cooperative sector could not be tainted merely because of the weaknesses of some cooperatives.

The Cooperatives has 570 members. It has the saving of Rs 79 million while invested the loans of Rs 78 million so far. Similarly, he has earned Rs 2.4 million profit in the last fiscal year.

Source: THT