Premier urges cooperatives to investment in industries
KATHMANDU,JAN 14:
Prime Minister Dr Baburam Bhattarai urged cooperatives to invest in big industries for a prosperous country.
“Cooperatives should use their money and expertise in industrial revolution,” he said, addressing the 19th anniversary of National Cooperative Association here today.
The PM also urged cooperative sector to focus their investment to get rid from energy crisis. Currently, the nation is reeling under a 10-hour long electricity crisis and it is expected to go up to 16 hours in coming months.
“Cooperatives should think of investing in big hydropower projects,” he said, assuring to revise laws governing cooperative sector to make them more active in the economy.
The state will revise cooperative laws for the sustainable development of the sector, he said, adding that the constitution will establish cooperative as one of three pillars – government, private sector and cooperatives – of national economy.
According to the Department of Cooperatives, some 23,301 cooperatives are in the country and they are providing jobs to 50,000.
About three million Nepalis are engaged in cooperatives that is claimed to be contributing around three per cent to gross domestic production (GDP) and has 15 per cent share in the financial sector.
Saving and credit cooperatives have around Rs 120 billion deposit and Rs 98 billion lending, according to the department. However, it has no reliable data.
Dr Bhattarai assured the government support for the success of International Cooperative Year. The world community is celebrating year 2012 as the ‘Cooperative Enterprises Build a Better World’, according to the United Nations.
Meanwhile, the annual general meeting (AGM) of the association today approved five-point agenda including a separate cooperative and poverty alleviation ministry, making International Cooperatives Year 2012 a grand success and urging the government to issue white paper on cooperative to strengthen the sector.
The association also decided to ask the government to include cooperative education in high school and university level. Currently, there is no education about cooperative in the country except short-term trainings conducted by the department and other agencies.
Source: THT
