Kathmandu. Acting Prime Minister Prakash Man Singh has said that only when cooperatives are respected can the foundation for building a prosperous country and society be laid. He said this while addressing the main ceremony of the 68th National Cooperative Day and International Year of Cooperatives 2025 in Kathmandu on Wednesday.
He said that the policy of strengthening the national economy through participation and independent development of the public, private and cooperative sectors and the policy of promoting the cooperative sector and mobilizing it for national development has been mentioned in the constitution itself, establishing a separate identity for cooperatives as a part of the constitution.
He asserted that the cooperative campaign in Nepal and the government are moving forward hand in hand. He said that out of the more than 31,000 cooperative organizations in Nepal, a few hundred cooperatives have been facing problems in returning savings of the general public for some time. He informed that the government is not keeping quiet because the problems are seen only in a few hundred cooperatives.
He said that he is committed to resolving the problems seen in the cooperative sector by making timely amendments to the Cooperative Act, establishing the National Cooperative Regulatory Authority, and other arrangements, and to maintaining good governance in the cooperative sector. He mentioned that the cooperative campaign should also assume additional responsibility to easily return all the savings of the general public.
Acting Prime Minister Singh said that the participation of women in cooperatives is 56 percent, which has contributed to women’s empowerment and development. He informed that cooperatives themselves are a campaign for economic and social awareness. He said that the Constitution has recognized the cooperative sector as an important pillar of a poverty-reducing, self-reliant, sustainable and socialist-oriented national economy.
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