National Cooperative Week commenced with an interfaith service at the Ministry of Labour’s Brickdam office, marking a week of activities under the theme “Co-operatives build a better future for all.”
Chief Cooperative Development Officer Janaknauth Panchu underscored the historical significance of cooperatives, emphasizing their ongoing relevance in modern society.
However, he expressed concern over the operational status of many registered cooperatives, noting that only 160 out of approximately 1500 are currently functioning.
Panchu called for enhanced regulatory measures and highlighted instances where defunct cooperatives have been exploited by unauthorized groups.
Gillian Burton Persaud, Ministerial Advisor and representative of the Guyana National Co-operatives Union Limited (GNCU), emphasized the need for cooperatives to expand beyond small ventures and encompass broader aspects of Guyanese culture.
She stressed the role of cooperatives in promoting food security and empowering individuals who lack financial resources to undertake agricultural experiments and innovations.
The week-long celebration will conclude on July 6 with a Market Day, aimed at promoting cooperative products and services.