PM Dahal Urges Swift Resolution of Cooperative Issues, Emphasizes Systematic Reforms

In a recent meeting at Baluwatar, Prime Minister Pushpa Kamal Dahal ‘Prachanda’ issued a directive to various government bodies, including the Ministry concerned, to promptly address the challenges faced by cooperatives. The discussions, held this morning, highlighted the Prime Minister’s emphasis on infusing the principles of socialism and collectivism into the cooperative sector, particularly for the benefit of the lowest sections of society.

The press note issued by the PM Secretariat outlined the Prime Minister’s call for provisions to be incorporated into the Act itself to promote cooperatives as essential components of a socialist framework. He stressed the need for both immediate and long-term measures to systematize and strengthen cooperatives.

PM Prachanda instructed the Ministry and relevant bodies to conduct thorough groundwork to address the current issues faced by cooperatives. Additionally, he expressed concern about the absence of an effective regulatory body for monitoring cooperatives and directed existing regulatory agencies to submit a comprehensive report categorizing cooperatives as well-performing, in crisis, or bankrupt.

A notable aspect of the Prime Minister’s directives was his focus on the security of deposits in cooperatives, urging coordinated efforts across all three tiers of government. He specifically called for immediate steps to safeguard the interests of depositors.

The meeting was attended by Deputy Prime Minister and Home Minister Narayan Kaji Shrestha, Minister for Land Management, Cooperatives and Poverty Alleviation Ranjita Shrestha, Chief Secretary of the Government of Nepal Baikuntha Aryal, and officials from related ministries, departments, and regulatory bodies.

The Prime Minister’s proactive stance reflects a commitment to addressing issues within the cooperative sector, signaling a push for comprehensive reforms and heightened regulatory oversight.