PM instructs Finance Ministry to bring concrete proposal on failing cooperatives

Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has instructed the Ministry of Finance to come up with a concrete proposal for the systematic resolution of the problems that financial cooperatives’ depositors are facing, as hundreds of thousands of them have suffered of late.

During an interaction at the Office of the Prime Minister and Council of Ministers on Monday, the Prime Minister directed to submit an appropriate proposal to take concrete measures to troubleshoot the challenges that cooperatives are facing.

“Hundreds of thousands of depositors have suffered since the problems of the cooperatives are not addressed soon. They are left stranded,” the PM said asking the Finance Ministry to come up with a concrete proposal.

Earlier, the PM consulted the Finance Ministry and National Planning Commission to make an overhaul in the government’s policy and programme and budget’s format and process.

According to the PM’s secretariat, the PM summoned the meeting to consult the stakeholders meant to revise the upcoming fiscal year’s government policy and programme and budget’s format as well as its schedule.

Likewise, the PM asked the officials not to fix the budget ceiling based on speculations.

He also asked the Finance Ministry and National Planning Commission not to add irrelevant new plans but to give top priority to the unfinished projects.

On the occasion, Finance Minister Dr Prakash Sharan Mahat, National Planning Commission Vice Chairman Dr Min Bahadur Shrestha, Commission’s Member Dr Ram Kumar Phuyal and Chief Secretary Dr Baikuntha Aryal pledged to work as per the PM’s directive and the government decisions.