Country's economy in improving trend: Minister Mahat

RAMPUR, PALPA: Finance Minister Prakash Sharan Mahat has said problems surfaced in the country's economy are being gradually resolved.

Inaugurating the 25th annual general meeting (AGM) and silver jubilee ceremony of Andhakarmukti Savings and Credit Cooperatives in Rampur Municipality of Palpa on Friday, Minister Mahat claimed the country's economy is gradually returning to its rhythm.

Highlighting the need to inject a positive attitude and publicity to make the economy further dynamic, he said those defrauding and misappropriating depositors' money will be brought to the legal ambit.

He shared that the government has initiated a process to form a separate regulatory body to regulate cooperatives across the country.

The minister argued that the promotion of tourism and modernisation of agriculture would help the country in attaining economic prosperity.

Lumbini province assembly member Raju Prasad Shrestha lauded the cooperative for its contributions to the development of eastern Palpa by mobilising small deposits.

Rampur Municipality Mayor Raman Bahadur Thapa said community-based cooperatives have significantly contributed to uplifting the lives of the people.

Andhakarmukti Savings and Credit Cooperatives Chairperson Sagar Prasad Devkota said the cooperative has been mobilising resources to make shareholders self-reliant through financing in income-generating activities.

The cooperative, established in 2055 BS by raising 50 paise a day, has earned its image as a model SACCOS in Palpa district.