KATHMANDU: Minister for Land Management, Cooperatives, Federal Affairs and General Administration Pratibha Rawal has said the government has returned savings to 1,452 cooperative depositors over the past three months.
Responding to questions raised during discussions on the Appropriation Bill in Parliament on Wednesday, Rawal said deposits worth Rs 5.9 million had been returned to small depositors with verified claims of Rs 10,000 or less from eight troubled cooperatives.
She also stated that the government had recovered Rs 35.449 million in loans during the same period.
According to the minister, the recovered amount was managed through measures including freezing assets and bank accounts of cooperative operators, managers, accounting committee members, loan subcommittee officials and their immediate family members, as well as through the use of cooperative assets.
Rawal said a commission formed to study irregularities in the cooperative sector had identified weak monitoring and regulation in previous years, along with issues related to expansion of operational areas and service centres.
She said the current government has already begun work aimed at providing long-term solutions to the cooperative crisis and delivering relief to depositors as quickly as possible.
The minister added that monitoring of not only troubled cooperatives but also other cooperatives across the country would begin soon.
Rawal also informed Parliament that a draft bill related to the formation, operation and service conditions of the federal civil service, including provisions concerning the retirement age of civil servants, has been sent to the Ministry of Law for consultation.
Comment