Government to Enact New Laws for Cooperative Sector Reform

In a significant move aimed at reforming the cooperative sector, the government has announced plans to enact new laws. This decision comes in response to the ongoing issues faced by cooperative depositors.

According to Government Spokesperson and Minister for Communication and Information Technology Rekha Sharma, the cabinet meeting held at Singha Durbar on Thursday resolved to initiate necessary legal frameworks to safeguard depositors and ensure greater transparency within the sector.

In addition to sector reform, the cabinet also appointed Judge Sudharshan Dev Bhatta of the Patan High Court as the chairperson of the Appellate Committee of the Kathmandu Valley Development Authority. Judge Bhatta is tasked with overseeing the court’s proceedings.

Furthermore, in response to recent fire incidents across the nation, the cabinet has directed relevant authorities to minimize damage and improve response mechanisms to control such emergencies promptly.

Looking forward, Minister Sharma also highlighted the government’s commitment to the 2024 Nepal Investment Summit. She emphasized the cabinet’s directive to convert the interest shown by foreign investors during the summit into tangible investments, aiming to boost economic growth.