Sri Lanka’s National Cooperative Policy finally ready for cabinet approval
After a decade of country-wide efforts involving eight million members, the first ever national policy for Sri Lanka's historic cooperative sector has finally arrived at Cabinet levels for ultimate approval, Minister of Industry and Commerce Rishad Bathiudeen says.
Once the Cabinet of Ministers granted its approval when the National Cooperative Policy (NCP) is submitted by the Minister of Industry and Commerce NCP will become the sole framework of reference and guidebook for Sri Lanka's cooperative sector way forward.
According to the Minister, the 111 year old Sri Lankan cooperative sector employs 46,000 and packs a membership total of a little over 8 million. The Lankan cooperatives assets and savings base is estimated at a huge Rs 418.416 billion (US $ 2.8 billion). At present the...