The global network of cooperatives has widely expanded and cooperatives are making significant contribution to the world economy. The share of contribution of cooperatives to the GDP in Nepal is also increasing as there is huge growth in enrollment of people in cooperative sector. Among the seven provinces of Nepal, Bagmati Province has contributed the most to the GDP. Studying the statistics of Bagmati Province, 33.98 percent of the total numbers of registered cooperatives in the country are in this province. The cooperative movement in this Province has the highest number of members, share capital, savings collection, loan investment and job creation compared to other provinces.
Nepal’s cooperative movement has gone through various stages and has now entered the stage of providing quality and competitive member services. With this phase, the responsibility of poverty alleviation has been added to the shoulders of the cooperatives through economic empowerment of the members. For this, cooperatives have to play an important role in the field of production, but it is not possible to legally link savings and credit cooperatives to direct production. On the other hand, since the mobilization of savings taken from the members increases the risk of investing in businesses other than fulfilling their financial needs, it is seen that the savings and credit cooperatives should not be involved in direct production. Therefore, it is our responsibility to motivate the members of Savings and Credit Cooperatives to provide financial services to the members at minimum prices and to connect the members with the products.
The economy of the country is currently plagued by the long term effect of COVID-19, Russia-Ukraine war and other various hurdles. Even in such a difficult situation, the services provided by the co-operatives are excellent and member-oriented as compared to other financial providers. This is a matter of our pride. Even though some state laws prohibit cooperatives from operating like banks and financial institutions, providing excellent service is an important proof that cooperatives are open to members.
Recognizing these facts into consideration, the Bagmati Province Federation of Saving and Credit Cooperative Union commits itself to carry out activities in the coming days focusing on the sustainable development and quality improvement of the member organizations.
Continuing to lobby for the improvement of existing barriers in state and local cooperative laws, to increase the quality of cooperatives entrusted to the regulation of local levels & to make them active by following the principles of cooperatives and to advocate for law making and establishment of cooperative branches at local levels which do not have cooperative laws and cooperative branches, the union will play an important role in encouraging the savings and credit cooperatives to operate on the basis of the values of the cooperatives and in activating the inactive cooperatives and in initiating amalgamation for building large social capital.
In order to increase the operational capacity and business capacity of the member organizations, the association will organize and facilitate various training programs for the implementation of the worldwide practice of cooperatives, prevailing cooperative laws, guidelines issued by the upper associations for cooperatives and the practice of this association.
“Be the life of self-owner, self-profit & loss participant, self-control method and self-management cooperative”. Recognizing this, the association will run various quality assurance programs to prove that cooperatives are capable of conducting self-disciplined business. We believe that such programs will further support the sustainable development of member organizations and member-centered activities.
We believe in the network. We have accepted that the development, promotion, quality enhancement, member centrality, mutual support and brotherhood, respect for the campaign and selfless service spirit as the motto of the association. We will remain united on the successful and follow-up issues adopted by the top unions of the cooperative movement. If there is any improvement under the guidance of the top unions of the cooperatives, I sincerely request for improvement.
Finally, we’d like to convey my respect to all the senior campaigner who have made significant contributions to the establishment of this federation. We would like to express our heartfelt gratitude to the member organizations for their support in making sure that the role of the Union as an important part of the Savings and Credit Cooperative Movement of Bagmati Province is established within the first year of its establishment. The Federation is always grateful to the National Federation of Cooperatives, Nepal Federation of Savings and Credit Cooperative Union (NEFSCUN) and the National Cooperative Bank for their guidance in enabling the union.