Kathmandu Metropolitan City Cooperatives Go Missing

Kathmandu. It is reported that one thousand one hundred and eighty-six cooperative institutions operating within Kathmandu Metropolitan City are out of contact. According to the Metropolitan Cooperative Department, only 726 of the registered cooperative institutions are in contact and regularly submitting annual reports.

The head of the department, Dhruvkumar Kafle, informed that the process of taking action against the cooperatives that are out of contact according to the law has been initiated. He stated that the ward women's network has been given the responsibility by the department for regulation.

"The women's network has been sent a letter and given the responsibility to play a role in supporting and coordinating for the promotion of cooperative principles, business, and maintaining good governance. The scope of work related to cooperatives has been expanded to the network with the objective of resolving problems through collective interest, coordination, and reconciliation," said department head Kafle.

For reconciliation and discussion, the coordinator and members of the ward women's network, representatives of cooperative institutions on behalf of cooperative institutions, the debtors themselves in the case of debtors, and the depositors themselves in the case of depositors will participate.

For problem resolution, single or joint applications will be taken to return the savings of depositors related to cooperative institutions falling within the jurisdiction of the metropolis and the concerned ward. Cooperative institutions or debtors will be brought into contact online or through correspondence. Records including the name of the institution, address, claimed amount, contact number, and promissory note will be taken for reconciliation. It is believed that this will facilitate the recovery of loans from debtors who do not repay.

If debtors do not show any interest in repaying the loan or do not come into contact even after receiving a notice from the ward, it has been informed that suggestions will be given to the ward chairman and the department regarding the restriction of public basic services for such debtors.

The Cooperative Department has the responsibility to inform about the financial status of cooperative institutions within the ward, problems related to savings return, loan recovery, and member welfare, to ensure good governance, transparency, and accountability in cooperative institutions, and to coordinate with bodies for the resolution of cooperative-related problems.