XN000022-1988-07-02 — Page 3

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SATURDAY, JULY 2, 1988

CONTINUED SUCCESS FOR CO-OPERATIVE MOVEMENT

FISHERIES,

THE DIRECTOR OF AGRICULTURE AND

DR LAWRENCE LEE, THIS (SATURDAY) EVENING PAID TRIBUTE TO MEMBERS AND OFFICIALS OF LOCAL CO-OPERATIVE SOCIETIES FOR THEIR CONTRIBUTIONS IN THE PAST YEAR TO THE CONTINUED SUCCESS OF THE CO-OPERATIVE MOVEMENT IN HONG KONG.

INDEED, HE SAID, SUCH SUCCESS WOULD NOT HAVE BEEN POSSIBLE WITHOUT THE UNSELFISHNESS OF THE PUBLIC-SPIRITED VOLUNTARY CO-OPERATIVE WORKERS.

DR LEE SAID THIS WHEN HE REVIEWED THE LOCAL CO-OPERATIVE MOVEMENT OVER THE LAST TWELVE MONTHS AT THE 66TH INTERNATIONAL CO-OPERATIVE DAY CELEBRATION DINNER IN HIS CAPACITY

AS REGISTRAR OF CO-OPERATIVE SOCIETIES.

THE

•

ON THE FIRST SATURDAY IN JULY EVERY YEAR, CO-OPERATORS IN EVERY COUNTRY GATHER TOGETHER TO CELEBRATE

INTERNATIONAL CO-OPERATIVE DAY, TO DEMONSTRATE SOLIDARITY AND TO RENEW COMMITMENTS TO THE CO-OPERATIVE PRINCIPLES AND PRACTICES.

DR LEE SAID THAT THERE WERE AT PRESENT 398 CO-OPERATIVE SOCIETIES REGISTERED WITH HIS DEPARTMENT WITH A TOTAL MEMBERSHIP OF 22,900, PAID-UP CAPITAL OF OVER $2 MILLION AND AGGREGATE SAVINGS OF MORE THAN $8.25 MILLION,

OF THESE 398,251 ARE URBAN SOCIETIES, MAINLY CO-OPERATIVE BUILDING SOCIETIES, AND THE REMAINING 144 ARE EQUALLY SPLIT BETWEEN FISHERIES AND AGRICULTURE.

"THE 72 FISHERMEN'S CO-OPERATIVE SOCIETIES REGISTERED A TOTAL SURPLUS OF SOME $130,000 IN THE PAST YEAR AND THE CUMULATIVE REVOLVING LOAN FUND CAPITAL BUILT UP FROM MEMBERS' SAVINGS STOOD AT $6.59 MILLION.

"DURING THE PAST YEAR, FISHERMEN OBTAINED LOANS AMOUNTING то SOME $17 MILLION FROM THEIR OWN LOAN FUNDS AND FROM THE LOAN FUNDS ADMINISTERED BY THIS DEPARTMENT, то BUILD NEW VESSELS, PURCHASE FISHING GEAR AND EQUIPMENT AND TO REPAIR HULLS AND ENGINES, HE SAID.

It

DR LEE NOTED THAT HIS DEPARTMENT AND THE FISH MARKETING ORGANISATION SPONSORED NINE CHAMPION AND LEADING FISHERMEN ON A 10-DAY STUDY TOUR TO AUSTRALIA IN NOVEMBER LAST YEAR.

TURNING TO AGRICULTURAI, CO-OPERATIVES,

HE SAID THAT OF THE 56,600 TONNES OF LOCALLY PRODUCED VEGETABLE MARKETED THROUGH THE VEGETABLE MARKETING ORGANISATION LAST YEAR, MORE THAN 46 PERCENT CAME FROM 27 REGISTERED VEGETABLE MARKETING CO-OPERATIVE SOCIETIES.

"THROUGH THE