Government will be pressing for the prosecution of managers who cannot account for the assets of co-ops, even as Minister of Labour Manzoor Nadir described the process of co-operatives reform as very slow and likened it to “pulling teeth”.
The minister also noted that there are a number of challenges and he was not too confident all the changes would be effected to ensure greater reform of co-operatives, the Government Information Agency (GINA) reported.
“I’m at pains to say that we are way behind in all the promises I’ve made not only for this year but also for last year as well on co-operatives reform,” Nadir was quoted as saying.
However, the labour minister warned that the Co-operatives Department will continue to call societies to books.
The co-operative society revitalisation exercise, GINA said, is in keeping with government’s manifesto promise to breathe new life into the sector, and the process began in February with a visit to Region Two. This was followed up with a visit to Region Six.
Nadir said the ministry has already laid the groundwork as it relates to rejuvenating cooperative societies but it has received a multiplicity of complaints.
Meanwhile, Cabinet has made a decision on the way forward for the 900 co-operatives that currently exist in Guyana. The minister noted that 350 of these co-operatives are school thrift societies and the ministry is intent on ensuring not only that they are re-energized, but that they are accountable and under proper management.
The ministry has also organised a group of investigators and inquirers who are tasked with scrutinizing the co-ops to decipher their financial standing.
