Collective will is necessary for cooperative governance

The government has recognized the cooperative sector as one of the major pillars of the economy and has launched special programs for further development and promotion of this sector.

Speaking at a program organized by the Cooperative Management Committee here today, the participants were of the view that the cooperative was not just a pillar of the economy, it was the means of promoting community interests, and unity and strengthening their economic life.

Secretary at the Ministry of Land Management, Cooperative, and Poverty Alleviation, Dr. Damodar Regmi, said the cooperative had its role to unite local majorly poor and small farmers for economic empowerment. “They can contribute to strengthening the social economy.”

The government encourages cooperatives to proceed with local products and their marketization, according to him.

The government has the policy of exploring and promoting economic innovations at the local level, encouraging the utilization of socio-economic capital and engaging cooperatives in production.

Cooperatives’ role is vital to provide a ground for seeking self-employment, strengthen rural life, and agri-economy, and build a self-suffice economy, according to Regmi who asserts “The major role of cooperatives is to improve the living standard of each member.”

He warned that cooperatives found not promoting good practices and abiding by the cooperative law will be brought under the purview of the law.

Also speaking on the occasion, Cooperative Management Committee Chair Kashiraj Dahal stressed that cooperatives should follow rules and regulations and maintain fiscal discipline.

Cooperatives activists attending the program pledged to cooperate with the three-tier government to alleviate poverty, create jobs, increase production, and empower the community.

Participants were univocal on promoting cooperative governance, implementation of relevant laws, transparency, and accountability, taking securities for loan and loan recovery within the deadline, continued monitoring and regulation of cooperatives business, and so on.