Cooperative societies to renew industry

THE Ministry of Trade, Commerce and Industry has defined cooperative societies as the vehicle to revitalise agriculture.
Trade, Commerce and Industry Minister Wera Mori said this was true in the run-down plantations of cocoa, copra, coffee, tea and teak wood.
“In the next five years, the ministry plans to collaborate with all stakeholders including government agencies, landowners, plantation owners, development partners, financial intermediaries and non-government organisations to re-engage in the plantation sector to revive these dead assets,” Mori said.
He told a consultative meeting the initiative by the ministry should contribute to achieving 20 per cent of the targets set by the SME master plan 2016.
These include the creation of one million jobs and the fair and equitable distribution of national wealth through direct and in-direct broad-based household income and employment to meet the subsistence needs of rural people.
There are 6410 registered primary cooperatives with 398,134 members in districts – except Esa’ala in Milne Bay and South Fly in Western.
“These figures suggest only 9.5 per cent of the adult population are involved which indicates that a low public interest and participation in cooperatives in Papua New Guinea,” he said.