Kathmandu. Kalpalata Multipurpose Cooperative Society has come into operation. The cooperative has been brought into operation from Saturday by 40 members from different areas. Chairman Ramesh Koirala said that Kalpalata Multi-Purpose Cooperative has been brought into operation with the objective of commercial production in various sectors of agriculture. The cooperative has a paid up capital of 20 million rupees and an authorized capital of 50 million rupees.
The cooperative, which was registered in Kathmandu, Lalipur and Dhading districts on August 26, 2078 BS, has a savings of Rs. 9 million. "The cooperative has been operating from Kathmandu Metropolitan City Ward No. 13, Kalimati since its inception," said Netra Raj Poudel.
According to him, the cooperative has set a target of raising Rs 5 billion in paid-up capital and five members this fiscal year. At present, the cooperative has 150 members. The cooperative has invested Rs. 10 million since its establishment.
Board member Poudel informed that Kalpalata Cooperative plans to operate a discount store from next April. After operating the subsidized shop in the first phase, the cooperative will run agri-business firm focusing on agribusiness in the second phase.
Apart from this, the government plans to operate and expand service centers in Lalipur and Dhading as per the need, said Poudel. There is affiliation in cooperatives from reconditioning entrepreneurs to hatcheries and publication operators.
Kalpalata Cooperative will provide vehicle and home loan at 14.75 percent for a period of two years. The general members will get three-year industry and trade business loan at the same interest rate, while the cooperative has announced a plan to provide educational loan at 14 percent for four years.
The cooperative has stated that it will provide agriculture and livestock loan at 13 percent for one year. Self-employment loan will be provided at 14 percent, micro loan at 14.75 percent and collective youth loan at 14.75 percent for 6 months.
Thus, the cooperative will provide contingent loan at 14.75 percent for 3 months and personal loan at the same interest rate for 3 months. The cooperatives will provide medical treatment loan at the lowest interest rate of 12 percent.