KATHMANDU: The task force formed to prepare terms of reference (TOR) for the Parliamentary Investigation Committee to investigate the misappropriation of cooperative funds, has submitted its report to Prime Minister Pushpa Kamal Dahal Prachanda.
The members of the task force handed over the report to Prime Minister.
The task force has reached a consensus on four key agenda issues.
The mandate outlines a comprehensive investigation of issues within the cooperative sector, including the status of savings protection and the process for returning funds to savers.
Recommendations for immediate action on savings recovery will also be provided.
The task force mandated with delineating the terms of reference for the parliamentary committee to probe the cooperative case reached consensus on four key points.
The agreed-upon points are as follows:
To conduct a comprehensive study and propose recommendations concerning the crises observed within cooperative organizations. This includes examining legal and institutional frameworks related to regulation, supervision, and transparency within the financial system.
To devise strategies to safeguard the savings of individuals invested in troubled cooperative organizations. Additionally, explore avenues to swiftly and efficiently return at-risk and misused savings to their rightful owners.
To assess the efforts undertaken by the Government of Nepal Cooperative Department and the Problematic Cooperative Management Committee in resolving issues within cooperatives listed in Schedule-1. This involves scrutinizing the progress made in safeguarding and reimbursing savers’ deposits, and offering immediate suggestions for improvement.
To investigate cooperative companies referenced in Schedule 2, particularly focusing on those highlighted by federal parliament and public scrutiny, such as Gorkha Media Network Pvt. Ltd. This inquiry will delve into allegations of misappropriation, improper transactions, and potential flows of funds to external entities. If illegal activities are uncovered, recommend measures for recovery and legal action against culpable parties.
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