Kathmandu, January 4, 2025 – Minister for Communications and Information Technology, Prithvi Subba Gurung, has emphasized the necessity of linking cooperatives with production to drive sustainable economic growth. Addressing the 14th General Assembly of the Sustainable Tourism Cooperative Society in Kathmandu today, Minister Gurung highlighted the critical role cooperatives play in fostering socio-economic development when managed with discipline and accountability.
Acknowledging the contributions of well-disciplined cooperatives in achieving their objectives, Minister Gurung expressed concern over the feudal tendencies exhibited by certain cooperatives. He stated that the government has been vigilant against undisciplined practices and is committed to addressing issues of exploitation and mismanagement in the cooperative sector.
"The government has devised a clear plan to ensure the cooperative sector remains transparent and beneficial for all stakeholders," Minister Gurung noted. Key measures include:
1. Strict Action Against Mismanagement: Bringing individuals or organizations involved in misappropriating public savings under legal scrutiny.
2. Safeguarding Depositors: Ensuring the return of misappropriated savings to depositors.
3. Establishment of a Cooperative Regulatory Authority: Empowering a dedicated authority to oversee cooperative operations.
4. Creation of a Cooperative Protection Fund: Providing a safety net to safeguard public investments in the sector.
Reflecting on past shortcomings, Minister Gurung stated, “We should have maintained cooperatives under a unified discipline from the start. The consequences of our oversight are evident today.” He further emphasized the government’s commitment to promoting good governance as a foundation for national development.
“When good governance is upheld, capital expenditure increases, corruption is controlled, and developmental efforts gain momentum,” he added.
The Minister’s remarks underscore the government’s determination to revitalize the cooperative sector as a pillar of economic transformation while safeguarding the interests of the public.
