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SOURCE: Press and Public Affairs Bureau


HOUSE PANEL KICKS OFF 2021 WITH BRIEFING ON PH COOPERATIVE SECTOR


 

12 January 2021 06:27:58 PM

The House Committee on Cooperative Development hit the ground running on Tuesday as it held its first organizational meeting of the year. Led by Committee Chair Rep. Presley De Jesus, the panel convened for a briefing by the Cooperative Development Authority (CDA) on the developments in the sector. CDA Chairman Orlando Ravanera reported that there are currently 18,581 cooperatives in the country with 11.6 million members. He said that cooperatives are crucial to the country’s economy as they have generated 513,000 direct employment opportunities, 2.5 million indirect employment opportunities, P512 billion in total assets, and P22 billion in net surplus. Ravanera added that the agency’s goals and objectives are anchored on empowering the poor and vulnerable, advocacy programs and initiatives, members and public protection, and strengthening the CDA. “We believe that cooperativism must come from social transformation… In today’s society, cooperatives should continue to empower those in the marginalized sector: the poor and the hungry, the needy and the oppressed, including the indigenous peoples, our farmers, and those in the rural areas,” he said. Ravanera also highlighted that the CDA released 29 Memorandum Circulars in 2020, majority of which focused on providing guidance and support for cooperatives and the community amid the pandemic. “The coops provided assistance to frontliners, LGUs, and medical facilities. In total, the contribution of the sector in support to the government’s response in combatting the effects of COVID-19 amounted to P5,431,161,356… And the amount doesn’t stop here as cooperatives continue to pool their resources to provide assistance to both members and non-members,” he said.

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