Capital of cooperative jumps to Rs. 840 million in 22 years

By Our Correspondent,Tamghas, Jan. 5: Maitri Multi-Purpose Cooperative Organisation, which started with just Rs. 13,200, has now a tur‑nover in tens of millions. 

The total capital of this cooperative has now reached Rs. 840 million. Executive Director of the organisation Arjun Prasad Acharya informed that it has annual income of Rs. 15.6 million.

Established in 2000  in Tamghas, the headquarters of Gulmi district, this co-operative has Gulmi, Arghakhanchi, Palpa, Rupandehi, Kapilvastu and Nawalparasi districts as its working area since its inception.

Acharya said that the cooperative is running programmes like convenience stores, savings and loans, youth self-employment, small business employment, loans without collateral in Tamghas and Dhurkot of Gulmi.More than 14,000 people have joined this multi-purpose cooperative which started with 31 members 22 years ago.

According to Acharya, unhealthy competition of the banks will cause losses to the cooperatives. Fifty five employees from six districts are currently working in Maitri. It is building its own administrative building in Tamghas.

Every year, the cooperative awards the children of the shareholders who get the best marks from the community school and honours and rewards the best performing employees and farmers.