Formation of Authority on the Cards to Troubleshoot Issues of Cooperatives

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Formation of Authority on the Cards to Troubleshoot Issues of Cooperatives

KATHMANDU: Minister for Land Management, Cooperative and Poverty Alleviation Balaram Adhikari has said that the formation of an authority is on the cards to regulate and monitor the cooperatives in all three tiers of government. This initiative aims to provide a sustainable solution to the sector's ongoing problems.

Responding to lawmakers' queries during the House of Representatives (HoR) meeting on Thursday, Minister Adhikari stated that the decision to form the authority has been forwarded to the Ministry of Finance for approval.

"The budget for establishing such mechanisms has been allocated in the upcoming fiscal year's budget," he added.

Minister Adhikari reiterated the ministry's commitment to finding sustainable solutions to the cooperative sector's existing issues. He also noted that 20 cooperatives have been declared problematic, and their management is being handled by the Problematic Cooperative Management Committees. Depositor claims are being processed online, with 59,587 claimants having lodged their applications so far.

Additionally, Minister Adhikari mentioned that the government has initiated the process of forming a commission involving experts. This new commission is intended to address the shortcomings of the National Land Commission, which has not met the expected outcomes in resolving the issues of landless individuals, squatters, and unmanaged settlements. --RSS

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