People with low incomes around the world, in order to achieve self-reliance, embraced the core principle of “All for one, and one for all,” and began the practice of cooperatives as a form of collective enterprise in 1844 in England. In Nepal, the formal beginning of the cooperative movement is recorded on the 20th of Chaitra, 2013 B.S. (1957 A.D.).

The Government of Nepal, by formulating the Cooperative Regulation 2048 B.S. (1991 A.D.), legally organized cooperative enterprises, recognizing them as an important aspect of the nation’s economic and socio-economic development. The prevailing laws of Nepal, the Interim Constitution of 2063 B.S. (2007 A.D.), and the Constitution of Nepal 2072 B.S. (2015 A.D.) have accepted cooperatives as one of the three pillars of national economic development. This has provided an opportunity for cooperatives to be established as a means of collective enterprise for marginalized and underprivileged communities.

The new Cooperative Act 2074 B.S. (2017 A.D.) and Cooperative Regulations 2075 B.S. (2018 A.D.), along with provincial and local cooperative acts, have sought to make cooperatives more organized and regulated. Thus, cooperatives have become a primary foundation of self-reliance and self-employment for marginalized, low-income individuals, and particularly for women. For youth aspiring to become self-employed, cooperatives serve as an important stepping stone.

However, if the cooperative sector is misused for personal gain, it can deviate from its true purpose. Therefore, if the government, cooperatives, and members act sincerely in accordance with the true spirit of cooperatives, they can become a key foundation for the nation’s economic self-reliance.

Since 2054 B.S. (1997 A.D.), mothers and sisters of the former Fakhel Village Development Committee were brought together to form a women’s group, which led to the formal establishment of Sakriya Mahila Savings and Credit Cooperative (SACOS) on the 10th of Mangsir, 2056 B.S. (1999 A.D.), with 42 shareholding members.

With the aim of reducing poverty, illiteracy, gender discrimination, and other issues, as well as fostering social and economic transformation, the cooperative has been working for the educational development of children and for the social awareness and economic self-reliance of women in the former Fakhel VDC — now Wards No. 4 and 5 of Indrasarowar Rural Municipality.

With the dream of women’s prosperity, this institution has participated in and achieved success in the national brand “Full Commercial SACOS Development Program” probation stage.

Reaching this point, we have consecutively obtained the probation brand twice, standing as an outstanding cooperative. We would like to express our heartfelt gratitude to our responsible and dedicated employees, active board members, and honest and patient members.