Minister Hangwang stresses monitoring of cooperatives

By Our Correspondent,Urlabari, May 10: Khagen Singh Hangwang, Minister for Industry, Agriculture, and Cooperatives of Koshi Province, has called on cooperatives to align their work with group and community-based income generation.

He made these remarks while inaugurating a provincial-level savings and credit cooperative seminar organised by the Nepal Federation of Savings and Credit Cooperative Unions Ltd. (NEFSCUN) in Itahari, Sunsari, on Thursday 

Minister Hangwang expressed concern that many cooperatives are currently limited to collecting funds, investing them at interest, and merely distributing profits. He urged them instead to introduce innovative initiatives by integrating mechanisation in agriculture. 

"Cooperatives are meant to serve their members," he said, further noting that businesses linked to traditional and indigenous foods and clothing could be promoted through cooperatives. 

According to him, consistent monitoring and regulation of cooperatives, alongside sound financial management, would ensure that such institutions never face difficulties.

Minister Hangwang also emphasised the need to use only government-listed software. “If cooperatives are run within the framework of the government’s laws, rules, and regulations, there will be no issues,” he said.  Ramesh Prasad Pokharel, Senior Vice President of the National Cooperative Federation, remarked that savings and credit cooperatives have achieved new heights within the cooperative sector. 

He expressed concern that while only 35–36 cooperatives across the country have failed, this has negatively affected public perception of the remaining 29,000. He said that the state must not overlook the cooperative sector’s contribution to the national economy. Mani Kumar Syangbo, Chairperson of Rong Rural Municipality in Ilam, currently a partner in NEFSCUN’s 'Aadharshila (Foundation)' programme, said that cooperatives have laid the foundation of the rural economy. 

He highlighted ongoing local initiatives such as 'one cooperative per ward, one agricultural product per cooperative, and one agricultural ambulance per product'.

The programme saw the participation of around 200 individuals, including chairpersons and managers from primary savings and credit cooperatives in Jhapa, Ilam, Morang, Sunsari, Dhankuta, Tehrathum, and Udayapur districts of Koshi Province.