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.