June 28: The Kathmandu Metropolitan City (KMC) has shown its concern on regulating the cooperatives under its jurisdiction in view of the increasing incidents of depositors being cheated by the cooperatives.    
The KMC's Cooperatives Department issued a notice on Wednesday and directed the cooperatives to hold their Annual General Meeting in the designated time and in the presence of all their share members.    
The metropolis has also urged the cooperatives to provide the KMC with information on their actual condition and transactions.    
Mayor Balen Shah has also instructed the cooperatives to inform the KMC about their actual status and transactions.

"Let us be spared from financial risk and let us save cooperatives from crisis," he wrote on a social media post.    
According to him, the KMC's Cooperative Department is 'flooded with' written and verbal complaints of the shareholders and managers of cooperatives.    
Mayor Shah has urged the cooperatives to maintain good governance by carrying out their operation and management in a responsible, honest, disciplined, and transparent manner following the due process. -- RSS