The working group under the coordination of the Chief Secretary should submit a report within 30 days
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It has been decided to form separate teams in all seven provinces to understand the situation of problem-oriented cooperative organizations dealing with savings and loans. This decision was taken at a meeting held on Wednesday under the coordination of Chief Secretary Ek Narayan Aryal in the presence of officials and representatives of concerned bodies.
The meeting has taken various decisions for the implementation of the Report 2081 of the Parliamentary Special Investigation Committee regarding the misappropriation of cooperative savings funds. "The Ministry of Land Management, Cooperatives and Poverty Alleviation will form a team with at least one expert in each province to conduct on-site monitoring of problem-oriented cooperatives that deal mainly with savings and loans and assess the actual situation and risk of such organizations' business and submit a report," the decision said. , 'For this purpose, the Ministry of Finance and the Ministry of Federal Affairs and General Administration will provide manpower.'
A task force has been formed to implement the legal recommendations pointed out by the Parliamentary Special Inquiry Committee report on misappropriation of cooperative society savings funds. The task force formed under the coordination of the Chief Secretary of the Government, Aryal, has the Joint Secretary in charge of the Financial Division of the Ministry of Finance, the Director in charge of the National Bank Supervision and Regulation Area, and the Registrar of the Cooperative Department. The member secretary of the working group is Namraj Ghimire, joint secretary of the Prime Minister and Cabinet Office. The working group will submit a report with a draft of legal reforms to the office of the Prime Minister and the Council of Ministers within 30 days.
It has been decided to implement the recommendations of the special investigation committee, to form a separate regulatory body for cooperative regulation and to proceed with the process for establishing a cooperative savings and credit protection fund. The provision to establish these institutions is mentioned in the Cooperative Act 2074. But not yet established. The report of the cooperative inquiry committee has also recommended the establishment of various institutions and regulatory bodies for the management of the cooperative sector in accordance with the provisions in the Act.
The government has prepared to return the money of the savers up to five lakh rupees of the problem-oriented cooperative organizations operating all over the country. For this, the federal government has already written a letter to the state and local level leaders in August and instructed them to send the data as soon as possible.
The letter was sent directly to the cooperatives within the scope of the Department of Cooperatives, to the organizations under the regulation of the provinces through the Prime Minister's Office and to the organizations under the regulation of the local level through the Ministry of Federal Affairs and General Administration. It is not intended to collect the details of cooperatives that are running well or that have no problems. In cooperatives which have problems, the savers have not received their money back even when they ask for it, the department of cooperatives has said that they are going to collect the details of the savers who save up to five lakh and three lakh rupees in those institutions.
According to the Department of Cooperatives, some details have been received so far and some are on the way. Correspondence was sent to the provincial and local levels to collect data on how many small savers there are in problem-oriented cooperative organizations and how much savings the organizations have to return. According to this, the data continues to come in," the source said, "We cannot see the cooperatives that have problems, so only the details of problem-oriented cooperatives have been requested."
In the budget of the current financial year, the government has planned to return up to five lakh savings in savings and credit cooperatives. As the necessary data for the implementation of the same plan is not available, the Cooperative Department has asked for the mentioned data under the instructions of the government.
