LORD and Cooperatives Minister Barrister Abdus Salam Talukder Wednesday called for restoring people's confidence tn the cooperative societies eliminating corruption and other weaknesses from them, reports BSS.

inaugurating a newly - floated financial cooperative organisation the People'* Credit Cooperative Society LTD. at Motljheel in the city, the min-later said an effective cooperative movement could help boost national economy promoting welfare of the people.

Mahfuzul Islam. Registrar. Cooperative Societies and SA

Hakim. Chairman of the People's Credit Cooperative, also spoke on the occasion.

The new financial organisation aims to help develop national economy through savings and investments, provide support to the production tn small and medium-scale industries and render assistance including financial support, to Import export business

The LORD Minister laid emphasis on efficient management of a financial cooperative organisation for Its sue cess. Citing examples, he said, there were such organisations which were facing enormous problems due to bad management.

Salam Talukder. quoting a survey conducted by the Planning Commission, said Cple in the lower strata had

n contributing 80 per cent to the national development while 20 per cent were being spent for them.

Whereas, he pointed out. the people who had been mak Ing only 20 per cent contribu-

tion to the national development were enjoying 80 per cent of the national expenses.

He urged the cooperative societies to work for removal of all imbalances, otherwise, he said, real development would be Jeopardised.

The LORD Minister said there were one crore twenty lakh cooperators in the country which comprised 10 per cent of the population

If the conditions of these cooperators were improved, then the rural scenario would have improved considerably, he observed.

Mahfuzul Islam said the Cooperative Credit Union was an organisation different from other banks.

He said cooperative societies used to work In rural areas but now urban based cooperative organisations were coming Up to generate economic activities.

He expressed the hope that the people's credit cooperative would contribute to the national economy.