Cooperatives must prove their worth, says DPM Singh

KATHMANDU: Deputy Prime Minister and Urban Development Minister Prakash Man Singh has urged cooperatives in Nepal to prove their value by improving their activities, particularly in light of public skepticism under the country’s three-pillar economic policy.

Speaking at the 15th annual general meeting of the Public Savings and Credit Cooperative Society Limited in Kathmandu on Saturday, Singh highlighted the importance of cooperatives adhering to their principles.

He noted that when cooperatives deviate from their core values, they face challenges that undermine public trust.

“In times of crisis, particularly in the context of Nepal’s three-pillar economic policy, cooperatives must play a significant role. I am confident that your cooperatives will rise above the current challenges and demonstrate their worth through improved activities,” said Singh.

Singh also reflected on the broader political context, stating that the current government was formed to ensure political stability and to highlight the government’s commitment to reforms.

He assured that the government had recognized existing weaknesses and was actively working towards addressing them.