Morang co-ops register total transactions worth Rs 13b in Q1

BIRATNAGAR, Nov 29: Cooperatives in Morang district recorded total transactions worth Rs 13 billion in the first quarter of 2014/15.

According to the data of Division Cooperatives Office Morang (DCOM), cooperatives in the district registered total transactions worth Rs 13.14 billion in the first four months of the current fiscal year 2014/15.

There are 1,064 cooperatives in the district. Of them, 624 are saving and credit cooperatives, 173 agricultural cooperatives, 149 multi-purpose cooperatives, 11 fruit cooperatives, 27 dairy cooperatives and 11 herbal cooperatives. Apart from these, there are also cooperatives related to communications, electricity and consumers, among others.

Dilsher Rai, cooperatives officer at the DOCM, said these cooperatives are providing jobs to 1,759 people in the district.

Cooperatives in the district have a total of 220,657 members.

Of late, the government is also encouraging cooperatives to increase their investment in income generating enterprises. The government provided around Rs 3 million in grants to 14 cooperatives in fiscal year 2012/13 to establish different factories. Six of them received grant from the government to open milk processing industry, while four others have received grants to open honey processing factories. Similarly, two cooperatives have received grants to open spices factories.

Meanwhile, Biratnagar Sub-Metropolitan City has also started the process to open cooperatives in all its ward offices. It has started ´one ward, one cooperative´ campaign for proper management of cooperatives and use them for poverty alleviation.

SOurce: Republica