President Mirza Fakhrul Islam Alamgir has said corruption has undermined many cooperative societies across the country, calling for transparency, accountability and effective management to restore the sector's effectiveness.
He also urged people to work together to tackle the energy crisis and revive the country's fragile economy.
The president made the remarks on Sunday, November 8, at an event marking the 55th National Cooperative Day, organised by the Department of Cooperatives at the Osmani Memorial Auditorium in the capital.
“Cooperatives are not limited to producing goods or conducting business activities. They are also linked to the development of the rural economy, job creation, poverty alleviation and improving the living standards of marginalised people,” he said.
He stressed that the cooperative sector must be developed into an effective tool for harnessing this potential and building a self-reliant Bangladesh.
Referring to the economic challenges caused by the global conflict situation, including the energy crisis, the president said collective efforts were needed to overcome the difficulties and keep the economy moving.
He also emphasised the importance of transparency, accountability and effective management in developing the cooperative sector.
“Many societies have lost their effectiveness because of corruption. Transparency and accountability must be ensured in cooperative management to overcome this situation,” he said.
At the event, President Mirza Fakhrul Islam Alamgir presented the National Cooperative Awards 2025 to selected individuals and organisations in recognition of their outstanding contributions to the cooperative sector.
