Make every household member of cooperatives: Minister Aryal

KATHMANDU: Minister for Land Management, Poverty Alleviation and Cooperatives Padma Kumari Aryal lauded the role of cooperatives in Nepal’s economy and argued that each household should be brought under the ambit of cooperatives.

Addressing the 8th anniversary of the National Cooperative Federation of Nepal here Friday, Minister Aryal urged the cooperatives to abide by the rules and stay united to protect the achievements made by the cooperatives.

Urging the cooperatives across the country to adopt the inter-cooperatives payment system, Aryal opined that the details of those cooperatives with good transaction record should be made public. Also speaking in the event, Federation’s President Surendra Bhandari said underscored the institutional good-governance in all cooperatives to ensure their long-term development.

The cooperatives in Nepal have mobilized more than Rs 25 billion of capital, according to him. He shared that the Federation had the capital worth Rs 200 million, assets evaluated to be Rs 500 million, deposit amounting to Rs 470 million and Rs 170 of investment.

Altogether 4,371 cooperatives across the country were associated in the Federation that is the apex body of cooperatives. Cooperatives sector is estimated to have employed more than 45,000 people.