Chairman of the Council of Ministers Khil Raj Regmi has spoken of the need of directing the cooperatives practice towards the productive sector and industrial development.
Chairman Regmi said that a system like ours which has adopted a liberal economic policy has a lot of possibilities of opportunities in terms of production and market promotion apart from the challenges in economic development.
Addressing the inaugural function of the 21st Annual General Meeting of the National Cooperatives Association here today, he stressed on increasing the local products and expanding business activities through small scale industries for boosting economic activities by means of cooperatives.
Chairman Regmi called on the cooperatives to focus their attention towards mobilising the local labour, skills and capital, using the domestic human resources and properly utilizing the resources for increasing the national production.
"An encouraging period has started in the country with the conclusion of the Constituent Assembly election for adopting a governance system that can address Nepal's needs and take into account the national context along with the framing of a new constitution," he said and expressed the belief that we would be able to take the country towards a new path of economic development through the cooperatives movement.
Chairman Regmi said the government has played a positive role throughout for the promotion of the cooperatives considered as an important pillar for the development of the national economy.
He urged the cooperatives to continue promoting the different economic activities by providing small loans to the poor and encouraging entrepreneurship.
Nepal Rastra Bank (NRB) Governor Dr. Yubaraj Khatiwada underlined the need for developing the cooperatives sector as a strong pillar for development and bringing about socio-economic transformation. He cautioned against using the cooperatives movement as a ladder to climb up the political power.
Chief Secretary of the government Lilamani Poudyal said that cooperatives was necessary for building an independent economy.
Registrar at the Cooperatives Board, Kedar Neupane, called upon the people involved in this sector to further boost the cooperatives movement and make it a viable means of the national economy.
Chairman of the National Cooperatives Association Ltd. Keshav Badal presented the annual report.
Presenting the report, Badal said so far there are 29,526 primary cooperatives, 280 district level cooperatives and 17 central level cooperatives and that some 45 per cent of the people involved in these cooperatives institutions were women.
Acting Secretary at the Ministry of Cooperatives and Poverty Alleviation Suresh Pradhan, Co-Chairman of the National Cooperatives Board Saroj Kumar Sharma, former chairman Deepak Prakash Banskota, among other speakers, wished for the success of the AGM.