Karnali Province Chief Urges Cooperatives to Earn Depositors’ Trust and Ensure Good Governance

In a bid to bolster confidence in cooperatives, Chief Minister Raj Kumar Sharma of Karnali Province emphasized the crucial importance of maintaining good governance and earning depositors’ trust within these financial institutions.

Speaking at a province-level workshop titled ‘Cooperatives’ Problems and Promotion of Good Governance,’ organized by the provincial ministry in Birendranagar on Monday, Chief Minister Sharma underscored the potential for development through the mobilization of people via cooperatives.

“Development can be achieved by effectively leveraging the collective strength of cooperatives,” stated CM Sharma, emphasizing their pivotal role in fostering economic growth, especially considering the constitutional mandate for socialism.

He suggested that cooperatives could engage in income-generating activities, thereby contributing significantly to the economic well-being of the province. Addressing the challenges facing the cooperative sector, Sharma emphasized the need for comprehensive policies at all levels of government.

“The province government is committed to fostering economic prosperity and social justice, ultimately leading to the well-being of the people,” CM Sharma asserted, highlighting the essential role of good governance in tackling issues across various sectors.

Moreover, he reiterated the province’s adoption of a three-pillar policy for economic development, emphasizing cooperation between cooperatives, private enterprises, and the public sector to drive forward activities and initiatives.

Chairman Kashiraj Dahal of the management committee tasked with addressing the issues of ailing cooperatives expressed concern over the erosion of trust due to unethical practices. He stressed the significance of cooperatives in retaining capital, technology, and talent, emphasizing their potential to play a crucial role in the province’s economic landscape.