NABUNTURAN, Davao de Oro, October 21 (PIA) – – An official of the Cooperative Development Authority XI encouraged struggling micro and small cooperatives with assets not exceeding P 30 million to merge and consolidate.
During the Kapihan sa PIA at NCCC Nabunturan on October 17, Maria Theresa Dave, senior cooperative development specialist of CDA XI, emphasized that the government will give capital incentives as an assistance to those struggling cooperatives, who will merge or consolidate.
Dave bared that the incentives will be a capital of P 500,000 for a minimum of three cooperatives who will merged or consolidated; P 750,000 for a minimum of five cooperatives; and P 1 million for a minimum of seven cooperatives.
She said that if within a year of the merger or consolidation another cooperative will join them, the CDA will give additional P 300,000 capital incentive.
With the prevalence of struggling cooperatives, Dave said that this move will give them higher chance of survival and bigger opportunity, since their capital will also be merged or consolidated.
“Kining mga cooperatives nga nagkalisdo, instead nga mag iya-iya sila sa ilang kalihukan, pwede sila magkahiusa sa pagdevelop og usa ka stronger na cooperative,” she said. (These cooperatives who are struggling, instead of dealing their problems on their operations on their own, they can work together to develop a stronger cooperative.)
The cooperative development specialist said that among the problems of the smaller cooperatives are in the leadership and online submission of reports.
According to CDA XI report, there are 390 registered cooperatives in Davao de Oro but only 165 are considered as operating or compliant cooperatives. (PIA Davao de Oro/MLU)
