Vice-President Nanda Bahadur Pun has said that cooperatives institution are the main basis of socio-economic transformation.
At the 4th Lalitpur SACOOS Summit organised by Lalitpur District Saving and Credit Cooperatives Association here on Wednesday, Vice-President Pun shared that cooperatives is the primary medium for a self-reliant economy. He shared that it was necessary to stress on economic development by using maximum capital though cooperatives.
Referring to anomalies and aberrations taking place in cooperatives institutions lately, VP Pun opined that the state should stay alert to control it. “The role of federation should be effective to make cooperatives responsible and regulation and monitoring is necessary to stop anomalies of cooperatives institutions”, he opined.
Similarly, Minister for Water Resources and Irrigation, Pampha Bhusal, said that cooperatives institutions are the basis of socialism. She suggested the cooperatives institution to reduce interest on both deposits and loan to increase production and entrepreneurship.
Minister Bhusal said that although 68 per cent of the people are dependent on agriculture, it is unfortunate to import agriculture products worth Rs 200 billion every year.
Likewise, Registrar of the Cooperative Department, Jhalak Ram Adhikari, said that they are working to make monitoring effective while Chairperson of National Cooperatives Federation of Nepal, Minraj Kandel, laid emphasis on the need of making the cooperatives a strong component in the three-pillar economy.
Source: National News Agency Nepal