Cooperatives emerge as source of employment for thousands in Nepal

(Gautambuddha Bajracharya) 
Kathmandu, Cooperative industry has emerged as a source of employment for thousands of people in Nepal. 
So far around 60,000 people are directly employed in the cooperatives. The history of cooperative formation dates back to 2013 BS in Nepal. 
Talking to RSS, Deputy Registrar at the Department of Cooperatives, Narayan Prasad Aryal shared the information that there are a total of 34,512 cooperatives across the country with the total member strengths of 6.3 million and cumulative savings of Rs 300 billion. 
According to the Department, the cooperatives have the share capital of Rs 73 billion and loan flow portfolio of Rs 27 billion. 
"Enterprises are being run through cooperatives in more than 15 sectors in Nepal. The cooperatives, currently in operations, mainly are in the sectors of savings of credit, multi-purpose, agriculture, diary, consumers, electricity, vegetable and fruits tea and bee-keeping", Aryal shared. 
On a query regarding the need of cooperative in Nepal, he argued that the cooperatives still have relevance in the country to increase financial access, create self-employment opportunities, develop leadership and advance societal transformation. 
The cooperatives have also played crucial roles in increasing production."The cooperatives have emerged as increasing source of rural employment making contributions for alleviating poverty through resource mobilization as well", he said, adding there are some exceptions in cooperatives which have tainted the entire image of the industry. 
There are as many as 150,000 male and 97,000 female in the Board of Directors of cooperatives in Nepal. Likewise, 41,000 women and 31,000 males are in service of cooperatives as employees. 
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