NCF urges PM Oli to avert contraction in cooperative sector

KATHMANDU: National Cooperative Federation of Nepal (NCF) today urged Prime Minister K P Sharma Oli to avert a contraction in the cooperative sector under forthcoming regulations.

At a meeting at the prime minister’s official residence in Baluwatar, Kathmandu, NCF chairperson Om Devi Malla and her delegation criticised guidelines issued by Nepal Rastra Bank and the Cooperative Authority as unbalanced, citing 10% deposit and 15% loan limits under the resource-collection ceiling. They also demanded a provision allowing transactions within three months of membership.

Prime Minister Oli assured the federation that the government would facilitate the sector’s management under new laws, policies and directives to ensure its smooth operation. He has suggested modifications to some provisions of the bill brought to replace the ordinance introduced to amend certain Nepal cooperative laws.

Also present on the occasion were Khagaraj Adhikari, head of the CPN (UML) Central Cooperative and Poverty Alleviation Department; former NCF chairperson Keshab Prasad Badal; and Kedar Nath Sharma, secretary at the Ministry of Land Management, Cooperatives and Poverty Alleviation.

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