KATHMANDU, June 7: Prime Minister Pushpa Kamal Dahal has said that the cooperative movement in the country should move forward on the path of socialism and positive efforts are necessary for the same. 

Inaugurating the first national conference of the Cooperative Center Nepal (CCN) in Kathmandu on Friday, PM Dahal pointed out the need for taking the cooperative movement on the right track by studying various issues related to cooperatives. 

He mentioned that the cooperatives in Nepal have been facing a crisis due to the impacts of the global economic crisis, adding that the government has been adopting various measures for policy and practical solutions to address the problems of the cooperative sector. 

Stating that the budget for the upcoming fiscal year has made necessary amendments to cooperative related laws in order to run cooperatives in a legal manner, the PM said that a regulatory body would be formed to regulate the savings and credit cooperatives.

He further said that a high-powered parliamentary committee has been formed to study the cooperatives facing crisis and investigate the cooperative fund embezzlement, recommend action against the guilty and present suggestions to resolve the problems. He expressed his belief that the committee would present necessary suggestions for a long-term solution to problems of the cooperative sector.  

Stressing that the budget has been allocated to increase production and productivity by commercializing and modernizing agriculture, Prime Minister Dahal said that the investment decade (2081-2091) in agriculture has been announced to increase investment in the agriculture sector. 

Special priority has been given to the promotion of the private sector, development of agriculture, energy, information technology, tourism, infrastructure and industry as well as education and health, said the PM. He added that the role of the cooperative sector would be significant for the implementation of the programs of the budget. 

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