CONCERNED about reports of impropriety on the part of some co-operative societies, the Ministry of Labour is getting tough on defaulters, and has warned that it will let the law take its course when illicit transactions have been found to have taken place.

According to Permanent Secretary Ms. Lorene Baird, who delivered the keynote address at the opening of the Guyana Co-operative Credit Union League’s (GCCUL) refurbished building at Durban Backlands moments ahead of the start of its 40th Annual General Meeting (AGM) on Wednesday, “As you conduct this 40th AGM and renew your commitment to strengthen the Cooperative Movement, the Ministry of Labour also wishes to challenge the Credit Union League to guard against the actions of a few that seek to destroy the benefits that could be accrued through co-operatives, and urge that the interests of all members be prioritised.”
Baird emphasised that prudent management will be the hallmark of the ministry’s regulation of co-operatives, since bad management on the part of elected officials, and non-participation of members in co-operative societies have caused tremendous damage to the image of the Co-operative Movement.
On this note, she warned:  “We will let the law take its course where illicit transactions take place.”
Ms Baird said that while government would not like to have a direct role in the people’s movement, and while it would like to stay out, as a regulatory body under the law, the Co-op Department will play a very involved and active role in ensuring that co-op movements serve their members, and that they abide by the rules and objectives.
Noting that the ‘International Year of Cooperatives’ was launched earlier this year, Ms Baird charged the League to use the opportunity to promote co-operatives as sustainable businesses. “We need to be more innovative in our ventures,” she charged.
She said that, in the context of globalisation, co-operatives must present a model that facilitates the transformation of the socio-economic well-being of people with limited means through the pooling of resources.
This she considered the ideal mechanism for resource-poor settings such as ours; and she congratulated the League for its work in promoting and helping to sustain the movement.
In concluding, Ms. Baird wished everyone success and expressed solidarity in supporting co-operatives towards creating employment and sustaining development through decent and productive work.