President Mirza Fakhrul Islam Alamgir has blamed widespread corruption for the decline of the country's cooperative societies, calling for reforms to existing laws and policies to revive the sector.
 
He also stressed the need to remove barriers to the growth of cooperatives, improve market access for their products and take effective measures to curb the influence of middlemen.
 
The President made the remarks while addressing an event marking National Cooperative Day at the Osmani Memorial Auditorium in Dhaka on Sunday.
 
Recalling his childhood in the small sub-divisional town of Thakurgaon, he said cooperative activities once had a vibrant presence there, with cooperative buildings, cold storage facilities and dedicated markets. Prominent members of the community were also actively involved in the movement.
 
However, he said the cooperative sector had undergone a significant decline over the years, losing the enthusiasm and momentum it once enjoyed.
 
Identifying corruption within cooperative organisations as a major reason for the deterioration, the President said most societies had been ruined by internal corruption, with only a handful managing to operate successfully.
 
He noted that the cooperative movement still had considerable potential to contribute to the country's economic and social development.
 
Emphasising the need for policy and legislative reforms, the President said concerns had been raised that certain existing laws were obstructing the normal growth of cooperative organisations.
 
He urged the relevant state minister, ministry officials and lawmakers to examine the issues seriously and make necessary amendments to create a more enabling environment for the sector.
 
The President also pointed out that the long-standing success and expansion of NGO activities in Bangladesh had created competition for cooperatives.
 
He called for strengthening cooperative societies so they could compete with NGOs, maintain their market position and expand their operations.
 
Citing Milk Vita as an example of a successful cooperative-based enterprise, he recalled its significant contribution to increasing livestock farming and milk production in its operational areas.
 
He said he had been informed that Milk Vita was currently making profits, although there was considerable scope to increase its earnings further.
 
The President stressed the need for stronger promotional activities to bring Milk Vita products, including pasteurised milk, butter, cheese and ice cream, to a wider consumer base.