As part of the poverty reduction project, the government is taking measures to ensure rural development as well as socioeconomic status and improvements in lifestyle by coordinating with local and foreign experts, Vice President U Nyan Tun told a meeting in Sagaing Region here on Friday, officials said.
The vice president said that the Ministry of Cooperatives has introduced a system that enables rural farmers to pay for agricultural machinery in installments, which he noted helps them save time, money and energy.
The cooperative system demands concerted cooperation of individual members in enjoying higher socioeconomic status, with the vice president saying that cooperative success will ease their reliance on the government and enhance their lifestyle, thereby contributing to public and national interests.
He pointed out the need to copy the examples of successful cooperative activities in other countries as part of reducing poverty and strengthening national economy.
U Kyaw Hsan, Union Minister for Cooperatives, pledged over K23,852 million for the cultivation of winter crops in the region and over K6,561 million as loans to new members of cooperatives.
The union minister informed farmers of his ministry’s installment plans for purchase of agricultural equipment, which includes 138 power tillers, 423 tractors and 39
U Tha Aye, Chief Minister of Sagaing Region, gave a background history of the cooperative system, which was introduced to the region in 1905, adding that there are 5,163 cooperatives in the region.
After the meeting, the vice president and his entourage visited Bodhi Tahtaung, where they offered flowers, water and oil lights to the Standing Buddha Statue, and made some cash donation. They also presented offertories in kind to the presiding Sayadaw and members of the Sangha.