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Revival of co-op society movement among Social Protection Ministry highlights
Minister within the Ministry of Social Protection, Keith Scott has lauded the renaissance of the co-operative movement as one of the highlights of the work carried out under the Ministry in 2017.
According to a recent report released from the Ministry, Minister Scott praised the reawakening of the programme.
The report indicated that during the year, the ministerial task force on the revitalization of the co-operative movement established last year, completed its work and submitted a number of vital recommendations, some of which have already been implemented.
The recommendations in conjunction with the national viewpoint, Minister Scott said, have led to a fresh approach to the management of co-operative credit unions, friendly societies and co-operative societies.
“Those institutions which were beleaguered by mismanagement and corruption, now have to be transparent and accountable in accordance with certain minimum standards set by the range of anti-money laundering instruments which we have embraced.”
The intent of the fresh approach is the elimination of corruption, nepotism and other forms of unprofessional behaviour which are factors that do not reflect human development.
According to the report, at the moment, the task force has revitalized forty-two cooperative societies and thirty–two friendly societies. They are quite willing to comply with the enlightened measures which will enable them to be truly categorized as game changers, as defined by Professor Michael Scott.
Minister Keith Scott
“It is worthy to note that in the coming year there shall be established four model co-operative societies in the Villages of Buxton, Ithaca, BV/Triumph and Mocha/Arcadia which will receive international assistance valued in excess US $12M and in return, will create a minimum 160 jobs.”
“I don’t think that I have to reemphasize that the Co-operative movement is destined to be a beacon of hope for economic development of our nation. In fact, it has the potential of becoming the third pillar of our economic infrastructure,” Minister Scott added.
Additionally, in a move to strengthen the movement, the Guyana National Co-operative Union Limited has been resuscitated and that agency has thus far revised the Regional Unions in Regions 2, 3, 4, 5, 6 and 10.
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