These newly-founded cooperatives, most of which are active in the fields of agriculture and industries, have over 4,400 members and created jobs for more than 3,200 people, Mehr News Agency reported.
A cooperative refers to a firm owned, controlled and operated by a group of users for their own benefit. Each member contributes equity capital and shares in the control of the firm on the basis of one-member, one-vote principle (and not in proportion to his or her equity contribution), Financial Tribune reported.