KATHMANDU, Oct 30: The government has returned more than Rs 1.51 billion to the depositors of troubled cooperatives so far.
Organizing a press conference in the capital on Tuesday, the Ministry of Land Management, Cooperatives and Poverty Alleviation claimed that Rs 1 billion 515 million has been returned to the victims of the troubled cooperatives.
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Minister for Land Management, Cooperatives and Poverty Alleviation, Balaram Adhikari clarified that the depositors who had less than Rs 100,000 savings in troubled cooperatives have been fully repaid and 438 people who have more than the amount have also been provided partial relief in equal amounts.
The government worked via the Troubled Cooperatives Management Committee to return the money of the depositors. As per Minister Adhikari, as many as 6,593 of the depositors have received some relief payments from the government. According to government statistics, there are 62,760 depositors who claim to be the victims of the troubled cooperatives.
With the 6,593 depositors receiving refunds, the remaining 56,605 depositors will have their savings returned through the capital, material assets and debt recovery of the related cooperatives. The ministry is also reportedly progressing towards collecting the defrauded amounts from the related cooperatives and returning them to the depositors.
The minister also reiterated that the government was going to amend the law related to cooperatives so that all the culprits of cooperatives funds embezzlement could be brought to justice.
