Baluwatar: National Cooperative Federation, Nepal highlighted the necessity of preventing contraction in the cooperative sector during a meeting with Prime Minister K P Sharma Oli at his residence in Baluwatar. The meeting, led by Federation President Omdevi Malla, focused on addressing concerns regarding the guidelines and standards issued by the Nepal Rastra Bank and the Cooperative Authority. The federation pointed out issues with the existing 10 percent deposit and 15 percent loan arrangement within the resource collection limit and advocated for provisions allowing transactions within three months of membership.
According to National News Agency Nepal, Prime Minister Oli assured that the government would ensure management facilitation in line with the laws, policies, and directives to be introduced for the smooth operation of the sector. He also suggested possible modifications to some provisions of the newly proposed bill intended to replace the ordinance for amending certain cooperative laws in Nepal.
The meeting was attended by notable figures including Khagaraj Adhikari, head of the Central Cooperative and Poverty Alleviation Department of the CPN (UML), former president of the federation Keshav Badal, and Secretary of the Ministry of Land Management, Cooperatives and Poverty Alleviation Kedar Nath Sharma.