Kathmandu, June 18 : Minister of State for Agriculture and Cooperatives Baldev Sharma Majagaiya has said that the Ministry of Cooperatives was constituted in order to alleviate poverty in the country and create employment opportunities.

Minister of State Majagaiya, who was inaugurating the Bharosa Nepal Multipurpose Cooperatives Limited here, said that the government has been studying the problems of cooperatives in the past.

He said the government has presented a bill in the present session of parliament for better managing the savings and loans sector and it will come up for discussions within one week.

He also said there is a programme to establish a cooperatives development bank in 
order to strengthen the 
cooperatives and Rs 10 million has been allocated for this in the budget.

Mr Majagaiya also distributed certificates to the founding shareholders of the cooperatives.

On the occasion, Minister of State Tirtha Ram Dangol said the Nepali Congress has come forward with the notion that economic prosperity is possible through cooperatives development.

Member of the cooperatives Thakur Prasad Poudel, presenting the objectives of the cooperatives and the action plan, said that a multipurpose agricultural farm will be established to incorporate all the agro-activities at Awantar of Dhading district.