सिंहदरबार संवाददाता
Kathmandu. Chairman of the National Cooperative Regulatory Authority, Arjun Prasad Pokharel, has said that the basis is being prepared to take cooperatives to self-regulation. In an interaction program with media persons and campaigners of cooperative campaigns organized in the capital after the Cooperative Act, 2074 was amended by an ordinance and made into a law, he emphasized that cooperatives should self-regulate themselves according to the principle.
Pokharel, who is also the Secretary of the Ministry of Land Management, Cooperatives and Poverty Alleviation, said that if cooperatives do not self-regulate, the authority will take legal action and move forward with regulation.
He also informed that the authority is setting the basis since it is not possible to self-regulate cooperatives in zero. Chairman Pokharel said that the first meeting of the authority was held after taking oath and taking charge and moving forward with 15 decisions. He informed that currently, more than 600 cooperative workers are in jail for misusing savers’ money and 1,500 cooperative campaigners have gone missing.
The Authority will also work to prepare a basis for returning the savings to those who have not received their money after saving in cooperatives. Chairman Pokharel also said that the Authority’s main objective is to maintain good governance in about 34,000 cooperatives under the jurisdiction of all three levels of government. Omdevi Malla, Chairman of the National Cooperative Federation Limited, said that crores of rupees of cooperatives were at risk due to the failure to form a credit information center on time as per the provisions of the Cooperative Act, 2074 BS. He said that after the formation of the debt recovery tribunal, the money sunk in the cooperatives will start to be recovered.
Chairman of Nepal Savings and Credit Central Cooperative Association Limited (NEFSCUN) Chandra Prasad Dhakal said that the issue of returning savings has not been mentioned in the ordinance to resolve the cooperative problem. He also said that a definition of both is necessary since members and share members are mentioned differently. Chairman Dhakal also emphasized the need to distinguish between those engaged in savings and credit transactions and other cooperatives.
Chairman of Bagmati Province Savings and Credit Cooperative Association Nepal (PROSCUN) Uddhav Sapkota emphasized that it is not appropriate to specify limits based on the work area in the ordinance and that it should be amended. He also said that the provision that property in another district cannot be mortgaged is not practical.
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