Addressing the 12th Annual General Assembly of Nepal Cooperatives Bank here Saturday, the President said the areas lacking access to financial activities should be addressed through the cooperatives institutions, so as to open the door to economic progress. Cooperative business should be developed as the base for attaining economic progress of rural areas, the President said, underlining the need of including economically backward community and far-flung settlements in it.
The cooperatives campaign should be promoted for the creation of employment opportunities, for poverty alleviation, promoting livestock farming, utilization of locally available resources and promoting self-dependency, the President added.
Deputy Prime Minister and Minister for Women, Children and Social Welfare CP Mainali argued only the contribution from private and public sector was not enough to boost up economic activities and realizing this fact, Nepal's constitution has given a significant space for cooperatives.
National Cooperative Federation of Nepal Chair Keshab Prasad Badal said the Nepal's constitution has recognized the contribution of the cooperatives sector to the economic development of the country. However, the existing Cooperatives Act needs to be revised as per the demand of time, he said.
On the occasion, cooperatives campaigners Om Prakash Sharma (posthumous), Rajesh Hari Joshi, Govinda Bahadur Malla, Dr Bishwa Mohan Acharya and Nabin Poudel were honored by the President.
The bank was established on July 9, 2003 and is rendering its services through 36 branches across the country. RSS
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