Cooperatives law to be amended

The government has taken an initiative to amend the law on cooperatives to make them more democratic and accountable, said LGRD Minister Syed Ashraful Islam yesterday.
Work is also underway to introduce a more friendly cooperatives guidelines, he said at a programme marking the 38th National Cooperatives Day. The Cooperatives Department organised the event at the Bangabandhu International Conference Centre.
Referring to corruption in the cooperatives sector during the previous government, the minister said that honesty, transparency and accountability are required to achieve success in the cooperative system, which can help ensure economic emancipation of the people.
Presenting the keynote paper, economist Prof Dr Abul Barkat said the government should promote cooperatives activities among farmers, as agriculture is the primary livelihood of the country.
Cooperatives activities can play a major role in increasing agricultural production, thereby reducing price of essential commodities, he said, adding that cooperatives can also create self-employment opportunities.
He also suggested strengthening the Cooperatives Department. For lack of manpower and logistical support, and politicisation are major obstacles to the development of this sector, he pointed out.
State Minister Jahangir Kabir Nanak said the government is considering establishing a financial organisation that would provide easy loan exclusively for the cooperative societies.
Other speakers said Bangladesh has a successful story of cooperatives activities. It can generate leadership and unity among the people, creating room for sustainable economic growth of the country.
They said there are about 1. 6 lakh cooperatives entities in the country involving around 4 crore people. The most prominent and successful among all the cooperatives society is Milkvita, which produces 60 percent of pasteurised milk in the country.
Advocate Md Rahmat Ali MP, chairman of parliamentary standing committee on LGRD ministry, Samar Chandra Paul, secretary of Rural Development and Cooperatives Division, Suraiya Begum, registrar, Directorate of Cooperatives, and Sheikh Nadim Hossain, Chairman of Bangladesh Cooperatives Union, also spoke.
The ceremony ended with a Gambhira performance by Chapainawabganj cooperatives activists.