Cooperative is key to economic prosperity: PM Deuba

LALITPUR, July 15: Prime Minister Sher Bahadur Deuba has said that cooperative is the backbone of economic development of the country.

Inaugurating the newly constructed building of National Cooperative Development Board in Lalitpur on Friday, Prime Minister Deuba said that proper development of cooperative was the need of the hour.

On the occasion, he highlighted the contributions of BP Koirala for the development of cooperative sector adding the first Cooperative Act was formulated by BP Koirala-led government in 2016 BS.

The seven-storey well-equipped building was constructed at a total cost of Rs 166.65 million. The building has television and radio station, training and seminar halls.

Similarly, former Chairman of Council of Ministers, Khilraj Regmi, said that the constitution has put the development of cooperative sector on top priority.

Nepal’s first-ever cooperative organization, Bakhan Singh Cooperative, was established in Chaitra 20, 2013 BS.

According to the Department of Cooperative, as many as 33,599 cooperatives have been registered in Nepal as of July 14, 2017. Total 6.03 million people have been enrolled to these cooperatives.

Various speakers including former Finance Minister Bharat Mohan Adhikari, former Minister Bal Krishna Khand, National Cooperative Association Chairperson Keshab Badal and former Chairperson of National Cooperative Board Deepak Prakash Baskota highlighted the role of cooperatives for the country’s development. RSS