KATHMANDU: The government has intensified a campaign to return the depositors' money from troubled cooperatives. Ministry of Land Management, Cooperative and Poverty Alleviation initiated the campaign to return the savings of depositors in the first-phase.
Out of 20 cooperatives declared problematic by the ministry upon the recommendation of the Department of Cooperatives, the government has settled the liabilities of three such cooperatives – Kuber Saving and Credit Cooperative, Chartered Saving and Credit Co-Operative Limited and Standard Multi-Purpose Cooperative – through property management.
Chairperson of the Problematic Cooperative Management Committee, Mohan Gautam, shared that they succeeded in returning all the savings of the depositors of those three cooperatives with constant coordination and activism of Minister for Land Management, Cooperative and Poverty Alleviation, Balram Adhikari.
Minister Adhikari mentioned that they had been taking initiatives to resolve the problems of other 17 distressed cooperatives. He further said they were working actively to return the savings of the depositors by mobilizing the committee effectively. -- RSS