The announcement of the government to sell the assets of the cooperative operators and return the money to the savers

Kathmandu: The government has announced the return of depositors' funds from troubled cooperatives by selling the assets of those cooperatives' operators. Finance Minister Barshaman Pun made this announcement while presenting the budget for the fiscal year 2081/82 in the Federal Parliament.

Minister Pun stated that depositors with savings in problematic cooperatives will have their funds returned, with a maximum of NPR 500,000 being refunded by selling the assets of the cooperative operators. He emphasized that necessary amendments will be made to the law to ensure cooperatives operate according to cooperative principles and policies.

Furthermore, a regulatory body will be established to oversee savings and credit cooperatives, ensuring better regulation and management. This move aims to protect depositors' interests and restore trust in the cooperative sector.

The government's decision is expected to provide relief to many who have faced financial difficulties due to the collapse of these cooperatives. By implementing stricter regulations and ensuring the proper functioning of cooperatives, the government aims to stabilize the cooperative sector and prevent future issues.