Minister Rai stresses need to promote cooperatives

KATHMANDU: Minister for Land Management, Cooperatives and Poverty Alleviation, Rajendra Kumar Rai, has stressed the need to promote cooperatives by addressing the existing problems in the sector. "It is imperative to promote the cooperatives by resolving the inherent problems rather than go after the false narrative that the cooperatives are damp squibs," he said on Sunday while addressing a discussion programme entitled, 'Crisis in Cooperatives, Causes and Way Out', organised by the Economic Media Managers Association of Nepal (EMMAN). However, Minister Rai reiterated that legal action should be taken against the cooperatives involved in wrongful practices. "The cooperatives have done a good job in the rural areas in terms of economic mobilisation. We should encourage them. The problems in the cooperative sector should be resolved," he said and gave assurances that he would make his effort as a minister in implementing the stakeholders' written suggestions related to resolving the problem in the sector. Ministry Secretary Damodar Regmi said a study is being conducted on the crisis-ridden and problematic cooperatives, and there is no reason for the depositors to panic about the situation. Nepal Rastra Bank (NRB) Board of Directors member Chinta Mani Siwakoti said the local government should also play an effective role in regulating the cooperatives. National Cooperative Federation of Nepal (NCF) Board of Directors Chairman Min Raj Kadel and National Cooperative Bank Chairman KB Upreti, among the speakers, underscored the need for positive cooperation from all sides for resolving the problems in the sector for reinforcing the public's trust towards cooperatives. The government should extend support to that end, they said. Ministry's former secretary Gopinath Mainali called for timely study and investigation regarding the crisis-ridden cooperatives for the benefit of the depositors. EMMAN President Royal Acharya called for positive contributions from all sectors for improving the country's economic condition since the media sector is also affected when the economy is in crisis. EMMAN Vice-President Madhav Prasad Tiwari said the debate has been conducted for contributing to economic prosperity with the realisation that the media is not only the critic but also a motivator, adding that the suggestions from the debate will be submitted to the bodies concerned. (With inputs from RSS) READ ALSO:

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