Sri Lanka National Youth Services Co-Operative Society Ltd

Introduction

Sri Lanka National Youth Services Co-operative Society (NYSCO) was registered on 1981.01.01 under the Co-operative Act No.05 of 1972. Having commenced operations centralized in the environs of Colombo it became decentralized from 1986.01.01 expanding to all districts in Sri Lanka with a membership of 25 co-operatives.

The primary objective of the setting up of this institution was to provide an opportunity to school leavers and unemployed youth to engage in a gainful activity through the provision of the necessary training, required capital and other services. Achieving this primary objective, today the membership has expanded to over 5 lakhs youth participants. Of this about 10 % have successfully improved their economic situation and business through the they have received.


Vision

"To be a pioneering institution which will pave the way to build-up an ‘entrepreneur culture’ by minimizing the economic instability of the youth community in the country".


Mission

"To develop the network of youth co-operatives, qualitatively, quantitatively and sustainably in order to render utmost productivity and efficient services to the young entrepreneurs, implementing various initiative projects, through a well-informed staff with their knowledge, attitude and skills.


Objectives
  • To have membership representation in the drafting of co-operative rules and allied constitutional clauses and other developmental activities regarding youth services.

  • To develop the desire for and use of thrift, reciprocity, self-help among members.

  • To full the economic, educational, social, cultural and sporting aspirations of members, in accordance with the policies of the co-operative system.


Factors impacting the building up of a Co-operative
  1. The lack of a proper cover in the Youth Services Act that could enable the disbursement of government funds directly to youth engaged in self-employment projects and the various restrictions that existed in government financial regulations.

  2. Difficulties youth faced in trying to obtain funds from other financial institutions:

    • Stringent policies and multiple information requirements

    • Lack of guarantors and problems with guarantees

    • Mistrust

    • Repayment period

  3. Since the co-operative is one where decisions are made by the youth themselves and owned by them there is a build-up of trust with liberal policies.

  4. The recommendation arrived at following a study conducted by the National Youth Services Council that the co-operative system is the most appropriate.

  5. The institutions that were included in the study

    • The existing co-operative system in Sri Lanka and the co-operative environment.

    • The Canadian ten-million co-operative network

    • The Malaysian Cobeino co-operative business network


Year of commencement and legal background

Registration was done with the Department Co-operative Development under the Co-operative Act No.05 of 1972.

  • Registration No. : Col/2689

  • Date of commencement : 1981.01.01

  • Date of decentralization : 1986.01.01


The decentralization of 25 co-operative societies under the umbrella of The Sri Lanka National Youth Services Co-operative Society was the beginning of the co-operative movement.


Organization structure

The Board of Directors consists of a maximum of 15 members 9 of who are chosen through a democratic voting process from the 9 districts. The other 6 members are nominated by the Commissioner of Co-operative Development. These six nominated directors must be persons engaged in youth activities within government departments, ministries and constitutional boards. The office of the Board of Directors is situated within the National Youth Services Council premises.

01.National:Sri Lanka National Youth Services Co-operative Society Ltd.
02.District:District Youth Services Co-operative Societies
A Board of Directors at District Level is elected from a general assembly consisting of all regional committee nominees and representatives,
03.Regional – Regional CommitteesWhile there are provincial general assemblies made up of members from the area, elected members make up a Board. The Secretary of this board is automatically the Officer in charge of Youth Services in the province.
04.Rural :- Members / Rural organizationsThese are rural units made up of members of one or more Grama Niladhari divisions.

The connection between the National Youth Services Council and
  • According to the National Youth Service Act No.69 of 1979 Section04 (f), (g), (j) and Section 05 (2) (d) the Council has the legal power to sponsor NYSCO.

  • The Council gives the authority to organizations providing funding assistance to carry out audits of activities utilizing such assistance.

  • The Chairmen and General Managers of all District level societies are officers of the National Youth Services Council.

  • According to the sub constitution the Director General / Chairman of the National Youth Services Council is also the Chairman of NYSCO. Therefore he becomes the executor of all policy decisions taken by the Board of Directors at NYSCO too.


Contact Details
Address

Sri Lanka National Youth Services Co-operative Society Ltd.

No.65,

High Level Road,

Maharagama.

Telephone and Fax

- 0112 2837573

- 0112 2848899

- nyscounion@yahoo.com



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