November 22, 2025
Minister Samarasinghe Leads High-Level Discussion on Cooperative Sector Reforms with Governors and Other Officials
A special discussion on issues in the cooperative sector was held on the 19th of November, with the participation of the Hon. Minister of Trade, Commerce, Food Security and Cooperative Development, Wasantha Samarasinghe, along with Governors, Provincial Cooperative Ministry Secretaries, Provincial Cooperative Development Commissioners, and Registrars.
During the meeting Hon. Minister of Trade, Commerce, Food Security and Cooperative Development, Wasantha Samarasinghe, stated that steps will be taken to establish “Coop City” outlets in major cities, where all consumer services can be obtained in one place.
He further commented that a program is being prepared to introduce cooperative products to the market under a unified brand, and that steps will also be taken to convert regional cooperative outlets into mini-Coop City branches in order to provide necessary facilities to rural communities.
During this meeting, an extensive discussion was held on the current situation of cooperative societies, the issues they face, and the methods by which those issues can be resolved. Minister Samarasinghe pointed out that large-scale financial frauds have occurred in some cooperative societies, and stated that in order to prevent such incidents in the future, the audit divisions of provincial cooperatives must be strengthened. Officials present emphasized the importance of revising the term limits for chairpersons of cooperative societies. They noted that imposing limits on the tenure of chairpersons and board members could help prevent corruption and misuse of power.
Issues such as charging excessively high interest rates on deposits and loans in some cooperative societies, operating registered cooperative societies as private businesses contrary to their intended purpose, and the acquisition of cooperative lands and properties by private individuals were also discussed.
The Minister further stated that several special plans have been formulated to resolve all existing issues in cooperatives and thereby strengthen the rural economy through the cooperative movement. He added that a program is being prepared to bring cooperative products to the market through the proposed Coop City branches in major cities, and that the Cooperative Development Fund expects to provide the necessary loan facilities to establish these Coop City outlets. Additionally, plans are underway to prepare a common Cooperative Charter for all Provincial Councils, as well as a common legal framework for all Provincial Cooperative Employee Commissions.
This meeting was also attended by Hon. Deputy Ministers, Hon. Members of Parliament, Provincial Cooperative Development Commissioners, Assistant Cooperative Development Commissioners, and officials from the Department of Cooperative Development.
