Cooperatives need to assist in productive sector: Minister Aryal

BHAKTAPUR, Aug 20: Minister for Land Reform, Cooperatives and Poverty Alleviation, Padma Kumari Aryal, said the cooperatives should provide loan for productive sectors rather than accumulating money.

During a program organized on the 11th annual general meeting of the Shankhadhar Saving and Credit Cooperatives at Madhyapurthimi on Sunday, Minister Aryal opined that cooperatives could be a partner for prosperity with its investment in productive area.

“Country is still in transition. The Cooperatives Act too is in transition. All sides need to work together to realize the national dream of prosperous country,” the Minister underscored.

On the occasion, Chairman of the Cooperatives Ram Sundar Shrestha informed that share capital of the Cooperatives till date was Rs 25 million, while the saving has reached Rs. 310 million. Similarly, it has floated the loan of Rs 266 million. RSS