Many developments in co-operative sector

by L. S. Ananda Wedaarachchi

The Co-operative Development Department will implement a program to assist co-operative societies at provincial level to overcome the financial crisis they are facing and promote their marketing activities.

Co-operative Development Commissioner General V. P. G. Kithsiri said some Co-operative Societies had faced financial difficulties. It is essential to streamline their operational activities by reducing expenditure and increasing the earnings of co-operative outlets.

Committees to purchase consumer items for co-operative societies under the direct supervision of the Provincial Co-operative Commissioners will be set up soon.

The Treasury had allocated Rs. 450 million to the Co-operative Development Department to implement this special scheme, he said. New consumer co-operative unions will also be set up at provincial level. The unions will set up their own funds with contributions from the co-operative Fund and union membership subscription, he said.