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Stakeholders urge resolution of issues for victims of cooperatives and microfinances


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19 February 2024  

Time taken to read : 3 Minute


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KATHMANDU: Stakeholders are calling for the resolution of problems faced by individuals affected by financial cooperatives and microfinances.

Pointing to instances where people have been displaced due to high compound interest rates imposed by financial institutions, they are urging the government to intervene and find a prompt solution.

This call was made during a press meet organized by the NGO Federation of Nepal (NFN) to mark its 29th annual general meeting, coinciding with the World Social Forum 2024 held in Kathmandu from February 15-19. NFN issued a 31-point declaration during the event.

The declaration draws attention to the activities of businesses benefiting from tax exemption, tax evasion, and the seizure of public lands, demanding that the government address these issues and take action against those responsible.

It also emphasizes the need for the formulation and implementation of laws and regulations to ensure that all citizens can realize the fundamental rights guaranteed by the Constitution.

Expressing concerns about youth migration and brain drain due to factors like corruption, mafia influence, brokering, and inequality, the NFN is urging the government to explore ways to improve the situation.

NFN President Ram Prasad Subedi has called on the authorities to improve the treatment of community-based organizations, emphasizing the need for restructuring the Social Welfare Council (SWC) to align with federalism and become technology-friendly.

He has also stressed the importance of releasing the assets of organizations in line with the law and has objected to the SWC’s policy guidelines that go against the law.

The declaration further addresses issues related to the imposition of provisions on national and international civil organizations and the need for climate justice and investment.

It requests an end to restrictions on freedom of expression in the name of regulating social media networks and urges the practical implementation of existing laws against violence on women, human trafficking, child abuse, caste-based discrimination, and untouchability.

NFN Secretary General Arjun Bhattarai emphasized the importance of not passing laws that grant immunity to individuals guilty of serious human rights violations and crimes during the conflict and cautioned against agreements that provide immunity for such serious offenses.

Publish Date : 19 February 2024 19:53 PM

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