KATHMANDU: Deputy Prime Minister and Minister for Defence, Ishwar Pokharel, has said that target of sustainable development of the nation could not be ensured through deposit of capital only.

While inaugurating a seminar organised by Savings and Credit Cooperatives in the capital today, DPM Pokharel urged the cooperatives to invest the capital in productive sectors.

He added that a new era of economic development had begun with the completion of political revolution. He also said that the existing laws could be amended or abolished and hindrances removed if they were creating difficulties for investment in productive sectors.

Likewise, Minister for Law, Justice and Parliamentary Affairs Sher Bahadur Tamang also reiterated that if there were any legal difficulties for investment, such laws could be amended.

National Cooperatives Federation chair Keshav Badal said that cooperatives had an important role in strengthening the national economy.

There are presently 34,500 cooperatives in the country with a deposit of around 300 billion rupees. About 620 cooperatives' delegates from across the country are attending the seminar.