Unlike stock exchanges, cooperatives can create jobs quickly – Mehr News Agency | Iran and world’s news

According to the Mehr correspondent, Mohammad Jafar Kabiri said today at the ceremony celebrating the top cooperatives: “We have 97,000 active cooperatives in the country that have been able to create job opportunities for 1.7 million people.”

The Deputy Minister of Cooperative Affairs added: “We tried to establish cooperative banks and cooperative institutions, which we hope will happen in the new era.”

He continued: “In the past, credit unions had problems, and we must revive these cooperatives and provide the benefit of low-income areas with credit cooperatives.”

“Six months ago, we announced that although the capital market is an important market, it cannot create immediate jobs,” Kabiri said. The cooperative has the ability to do this and can help create sustainable employment and control the flood of liquidity by attracting liquidity.

The Deputy Minister of Cooperative Affairs stated: To develop the cooperative sector, we need to develop intelligent systems in the cooperative sector, create innovation centers and increase the budget of cooperatives by 14 times.

He added: “We were able to get 101 thousand lines from the budget, according to which we signed a memorandum of understanding with the Cooperative Development Bank and the Guarantee Fund to create a credit line of 2100 billion tomans.”

Kabiri added: “In the new period, we must follow the suspended laws of the cooperative. Of course, we followed some of these laws, for example, we were able to pay the employer’s share in a 20% discount on employee insurance.”

He stressed: “Also, the cooperative development document should be reviewed, amended and implemented, and we need the High Cooperative Council to implement it.”