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Engineers urge to prioritize cooperatives in next year's budget


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2022 Apr 06, 20:21, Kathmandu
Ministry of Finance Photo: NepalNews

Engineers of the cooperative sector have urged to give priority to the cooperative sector in the budget of the coming Fiscal Year 2079/80. In a discussion held at the Ministry of Finance today in connection with the formulation of policies, programs, and budget for the coming year, they said that the law which is incompatible with the cooperative sector should be amended.

They suggested that the cooperatives should be encouraged to go door to door, the debt collection tribunal should be made effective, strict measures should be taken to regulate the misconduct in the cooperatives and research work should be done for the development of the cooperatives.

Participating in the discussion, President of the National Federation of Cooperatives, Minraj Kandel, said that arrangements should be made for re-lending from the National Cooperative Bank, construction of cold storage houses in all the states, and operation by cooperatives, and operation of powdered milk factories by cooperatives.

Finance Minister Janardan Sharma said that homework was being done in the forthcoming budget to give priority to the cooperative sector. "There have been many suggestions in the discussion on how to improve the cooperative sector. Efforts will be made to address these suggestions through the budget, ”he said.

The Ministry of Finance has been holding continuous discussions with the stakeholders for the preparation of the budget for the coming fiscal year. The ministry has already held discussions with representatives of agriculture, education, private sector, banks and financial institutions, insurance, federalism, infrastructure, Dalits, disability, economics and other sectors. The ministry is preparing to hold discussions with MPs, former finance ministers, youth, and students to get suggestions for the budget.

The Ministry has provided toll-free number 1138 for the general public who are physically present in the discussion and cannot give suggestions. The Ministry has stated that suggestions are also being received on the toll-free number which can be given by calling during office hours.

READ ALSO:

Engineers fiscal year cooperative debt National Cooperative Bank Finance Minister Dalits insurance budget Ministry of Finance
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