Minister Pratibha Rawal Pledges Return of Savings to Cooperative Members

Kathmandu. Minister for Land Management, Cooperative and Poverty Alleviation Pratibha Rawal has stated that the government has given high priority to resolving the existing problems in the cooperative sector and returning the savings of depositors.

Speaking at a press conference organized by the Problematic Cooperatives Management Committee, Minister Rawal expressed commitment to formally begin the process of returning depositors' funds from the first week of the upcoming Jestha.

Stating that the main basis for returning cooperative savings is loan recovery, Minister Rawal clarified that the government will take very strict steps for this. According to her, the list of debtors who have taken loans from problematic cooperatives and have not repaid them on time is being published today through the ministry's website. To make the loan recovery process effective, the government is preparing to even withhold various public service facilities provided by the state to debtors.

For the long-term solution of cooperative problems, the Ministry of Land Management has informed that it is continuously coordinating with stakeholders such as Nepal Rastra Bank and the Office of the Attorney General. Minister Rawal claims that the savings of depositors will be safely returned by bringing large absconding debtors into the legal framework and recovering loans from them.

She said, 'We have to be ruthless towards those who do not return loans. The government is working on withholding public facilities from the state such as electricity, water, and waste management that they are entitled to.'

Mentioning that the ministry's secretary and joint secretary will clarify the technical aspects regarding the necessary modality and further action plan for the return of savings, Minister Rawal reiterated that the government is fully committed to this issue.