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THE PHILIPPINE Chamber of Cooperatives said measures to amend the Cooperative Code should allow cooperatives to freely form federations among themselves even if they are not in the same line of business.
“We humbly submit that the creation of federations should not be limited to only the same line of business because this would limit the growth of cooperatives in terms of the financial aspect,” Noel D. Raboy, founding trustee of the chamber, said in a position paper on House Bill No. 9450, which seeks to amend the Cooperative Code of the Philippines sent to BusinessWorld on Monday
“We must give utmost freedom to cooperatives in forming federations among themselves.”
Under the House measure, cooperatives can form federations only with those engaged in the same line of business.
The Senate is in the middle of consultations on whether the cooperative code needs to be amended to encourage growth and introduce more investment. — John Victor D. Ordoñez
