KATHMANDU, Dec 25: The government is going to introduce an ordinance on cooperatives to solve cooperative problems. A minister informed that the cabinet meeting held in Baluwatar on Tuesday evening decided to bring an ordinance to solve cooperative problems.
The ordinance is going to bring a provision to return up to 500,000 rupees to cooperative victims. The ordinance mentions the formation of a 'National Cooperative Regulation Commission' to solve cooperative problems. The commission has been arranged to have a chartered accountant as the chairman. The commission will have cooperative experts and the governor of the National Bank as members. The ordinance mentions that if more than 1 million rupees is deposited in any cooperative, the source of its income must be disclosed.
Govt decides to introduce an ordinance to amend nine acts simul...
According to sources, the ordinance also mentions returning the money of cooperative victims and recovering the money from those who cheated the cooperative. It states that the amount of up to 500,000 will be returned first. The cabinet meeting has also decided to send the ordinance to the President's Office for approval.
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