Friday, 1 March, 2024

Cooperatives in budget priority: Minister Sharma


By A Staff Reporter
Kathmandu, Apr. 7: Minister for Finance Janardan Sharma said on Wednesday that homework is being done on budget giving priority to the cooperative sector.
Speaking at a pre-budget discussion held at the ministry on Wednesday with the stakeholders and entrepreneurs of the cooperative sector for formulating the policy programme and budget for the coming FY 079/80, Minister Sharma said that efforts would be made to formulate the budget by collecting suggestions from all sectors.

“We have received valuable suggestions to strengthen the cooperative sector,” he said, adding that all those suggestions will be considered while preparing the budget and the policy of the government for the coming year.

President of the National Federation of Cooperatives, Minraj Kandel, said that the laws that are in conflict with the cooperative sector should be amended. He suggested that arrangements should be made for re-lending from the National Cooperative Bank, construction of cold storage houses in all the provinces and operation by cooperatives, and operation of powdered milk factories by cooperatives.

He also suggested that cooperatives should be encouraged to go door-to-door, debt recovery tribunals made effective, strict measures taken to regulate misconduct in cooperatives, and research carried out for the development of cooperatives.

The Ministry of Finance has been holding continuous discussions for the preparation of the budget for the coming fiscal year. So far, discussions have been held with representatives of agriculture, education, private sector, banks, financial institutions and insurance, federalism, infrastructure, dalits, disabiled, economists and others.

The ministry is holding discussions with MPs, former finance ministers, youths and students to get suggestions for the budget.
The ministry has provided toll-free number 1138 for the general public who are physically unable to attend the discussion and give suggestions. Encouraging suggestions are also coming to the toll-free number which can be given by calling during office hours.