Local govt to shut cooperatives

Local govt to shut cooperatives

KENDARI, Southeast Sulawesi: The Southeast Sulawesi provincial
government is planning to shut down hundreds of cooperatives in
the province due to their lack of activity.

Head of the cooperatives office at the provincial
administration Abdul Madjid said that among 1,769 cooperatives
listed this year at the office, 353 were considered nonactive,
meaning that they had not recorded any transactions or not done
any business.

The official said that the government was giving consideration
to revoking their permits and liquidating them. -- JP