He explained that the above-mentioned committees and teams were formed in response to the complaints that the ministry received from the shareholders of cooperatives, and based on the reports submitted by the appointed financial and administrative auditors in the cooperatives, indicating suspected financial and administrative violations or irregularities. He stated that once these teams and committees confirm the violations, irregularities or misuse of power by the boards of directors of the cooperatives, which could threaten shareholders’ funds and harm the cooperatives, they will be dealt with firmly to safeguard the vital cooperative system that is considered the cornerstone of food security in the country. He asserted,

“We are committed to intervening immediately in case of suspected irregularities or violations to safeguard the financial stability of cooperatives, prevent any harm to their solvency, and protect the shareholders’ funds, which are a trust placed in our hands.” He added the ministry has intensified the inspection of cooperatives to include most of them to achieve the ultimate goal of cooperative work -- provide high-quality goods at affordable prices to ease the financial burdens of consumers. He warned the boards of directors that are not cooperating with the ministry in any way, or that are not implementing ministerial and administrative decisions issued regarding the regulation of cooperative work, indicating that their bank credits will be suspended. He stressed that the ministry will not hesitate to take stringent measures against these boards of directors if they persist in their non-compliance or fail to respond to its call to quickly rectify their violations