COLOMBO (News 1st); President Gotabhaya Rajapaksa said the cooperative movement plays a vital role in providing relief to farmers and consumers, alike.

The President made this observation addressing the 99th International Cooperative Day celebrations held at the Presidential Secretariat on Monday (05).

The President pointed out that the cooperatives could intervene to buy agricultural produce directly from the farmers and provide it to the consumer at a concessionary price while keeping a profit.

It can revive the cooperative movement that collapsed with the open economy and play a major social role in the event of a disaster, said the President’s Media Division quoting the President.

The President further pointed out that the cooperatives could make a significant contribution to the success of the organic fertilizer and solar energy programs planned by the government.

The first Saturday in July every year is designated as “International Co-operative Day” in 112 countries around the world.

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