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Communication and Information Technology Minister Prithvi Subba Gurung has mentioned that the entire cooperative sector is being discredited because of some cooperatives and said that the government is working to organize the cooperatives.
At the 14th General Meeting of the Sustainable Tourism Cooperative Organization held here today, Minister Gurung said that an ordinance has recently been issued to amend some Nepal Acts related to cooperatives in order to operate the cooperatives in an orderly manner.
He informed that there is also a provision in the ordinance to establish the National Cooperative Regulation Authority to make the cooperatives that deal in savings and loans transparent and effective in order to regulate cooperatives.
Minister Gurung, who is also the spokesperson of the government, said that now one person cannot become a member of more than one cooperative organization of the same nature, information about savings and loan transactions must be made available to the credit information center, and limits and scope of personal savings and loans have been determined.
'Work is being done to bring the people who embezzled the savings in cooperatives into the scope of action,' he said, 'The government is working to return the savings of the savers.'
