CPN (UML) deputy general secretary Pradip Gyawali has said that the cooperatives are grappling with the present problems as they failed to invest in the productive sectors.
Addressing a press meet organized by the Press Chautari Chitwan branch in Bharatpur today, he said although the cooperatives contributed to developing the saving culture in Nepal, they could not work as the ‘bridge’ between the producers and the consumers. ‘The problem is that most of the cooperatives across the country were not involved in productive work. This situation has come due to the trend of collecting deposits and lending them at high interest rates,’ he added.
The UML deputy general secretary noted that some cooperative promoters took advantage of the government bodies’ inability to conduct timely monitoring of cooperatives. Stating that 60 thousand cooperatives throughout the country have deposits of Rs 800 billion, Gyawali said the cooperatives’ contribution to the development of the culture of saving was important.
He called on the government to take ‘concrete steps’ to resolve the problems besetting the cooperatives. The UML leader urged one and all to carry out works encouraging the youth that the country can be made prosperous.