Publicity that all cooperatives are good-for-nothing is false: Minister Rai

Kathmandu, Feb 26: Minister for Land Management, Cooperatives and Poverty Alleviation, Rajendra Kumar Rai has insisted on the need of promoting the cooperatives by addressing the existing problems in the sector. “It is imperative to promote the cooperatives by resolving the inherent problems rather than go after the false narrative that the cooperatives are damp squibs,” he said today while addressing a discussions programme entitled, ‘Crisis in Cooperatives, Causes and Way Out’, organised by the Economic Media Managers Association of Nepal (EMMAN).

However, the Minister reiterated that legal action should be taken against the cooperatives that are involved in wrongful practices. “The cooperatives have done a good job in the rural areas in terms of economic mobilisation. We should encourage them. If there are any problems in the cooperative sector, they have to be resolved,” he said and gave the assurances that he would make every effort possible from his role as the Minister in implementing the stakeholders’ written suggestions related to resolving the problem in the sector.

Ministry Secretary Dr Damodar Regmi said a study is being conducted on the crisis-ridden and problematic cooperatives, and there is no reason for the depositors to panic about the situation. Nepal Rastra Bank (NRB) Board of Governors member Dr Chintamani Shivakoti said the local government should also play an effective role in regulating the cooperatives.

National Cooperative Federation of Nepal (NCF) president Minraj Kadel and National Cooperative Bank chairman KB Uprety, among the speakers, underscored the need of positive cooperation from all sides for resolving the problems in the sector for reinforcing public’s trust towards cooperatives. The government should extend support to that end, they said. Ministry’s former secretary Gopinath Mainali called for timely study and investigation regarding the crisis-ridden cooperatives for the benefit of the depositors.

EMMAN president Royal Acharya called for the positive contribution from all sectors for improving the country’s economic condition since the media sector is also affected when the economy is in crisis. EMMAN vice-president Madhav Prasad Tiwari said the debate has been conducted for contributing to the economic prosperity with the realization that the media is not only the critic but also a motivator, adding that the suggestions from the debate would be submitted to the bodies concerned.