President Maithripala Sirisena he would take initiative in moving a Cabinet paper to remove some of the taxes on cooperatives.

The President said he would hold talks with Industry and Commerce Minister Rishad Bathiudeen.

He made these remarks at the 95th International Cooperative Day event held at Kurunegala on July 1.

“Cooperative Development 2020 Vision is the roadmap that we are introducing to modernize this sector” said Minister Bathiudeen at the event.

Secretary of Ministry of Industry and Commerce Chinthana Lokuhetti, Wayamba Province’ Cooperative Minister Gunadasa Dehigama, and Ministers Gamini Jayawickreme Perera, Anura PRiyadarshana Yapa, S B Navinna, TB Ekanayake, and Champika Premadasa  also attended the event.

A cheque of Rs 100 Mn from the Cooperatives Board was also handed over by President Sirisena to the Wayamba Provincial Cooperative Employee Fund at this event.

President Sirisena praised the Cooperative Development 2020 Vision given to him by Minister Bathiudeen. “I had a look at Minister Bathiudeen’s Cooperatives Development 2020 Vision and I have to say he has carried out my requests on coop reforms very well in formulating it. Our Cooperative system is also facing the burden of taxes. I shall do my best to our Cooperative sector to relieve it from its issues.”

The comprehensive Cooperative Development 2020, the first major reforms to be introduced in 111 years since the introduction of the system to the country, envisions modernizing this sector with the introduction of modern business practices, strengthening sub sectors, introducing new information technology, and connecting more youth to the network.