Kathmandu: The 69th National Cooperative Day is being celebrated across the country today with various programs. Traditionally observed every year on Chaitra 20, this year’s celebration carries the main slogan: “Entrepreneurship and Transparency: The Indispensability of Cooperatives.”
The cooperative sector has been playing a significant role in Nepal’s economic activities. Nearly 30,000 cooperative organizations have been registered nationwide, with over 6 million members affiliated. The sector provides direct employment to around 50,000 people and indirect employment to about 500,000 citizens.
Cooperatives contribute approximately 3% to the country’s Gross Domestic Product (GDP) and account for 15% of financial inclusion.
Despite numerical growth, cooperatives face challenges in improving quality. Various irregularities and discrepancies have led to a decline in public trust and popularity in recent years.
National Cooperative Day serves as an opportunity to highlight the importance of cooperatives, promote transparency, and encourage professional reforms in the sector.
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