Himal Press 
KATHMANDU: The government has given borrowers of 20 troubled cooperatives 15 days to repay their loans.
Issuing a notice on Tuesday, the Problematic Cooperative Management Committee directed borrowers and guarantors to settle their outstanding loans within 15 days. The committee has warned that failure to repay within the specified timeline would result in the freezing of assets belonging to both borrowers and guarantors, as well as the auctioning of the pledged collateral.
“If the loans are still not settled within the specified period, the details of borrowers will be made public, and requests will be sent to relevant authorities to freeze the assets and accounts of borrowers, their families, and guarantors, as well as public service facilities. Furthermore, in accordance with the Cooperative Act, 2017 and Cooperative Regulations, 2018, the pledged collateral will be sold through auction or otherwise disposed of to recover all outstanding amounts owed to the cooperatives,” the notice states.
The committee got the full shape only on Tuesday. The cabinet on Tuesday appointed Dilliraj Acharya as chairperson, and Navaraj Simkhada and Roshan Bahadur Shakya as members of the committee.
The problematic cooperatives served with the 15-day notice include: Standard Savings and Credit Cooperative, Pacific Savings and Investment Cooperative, Prabhu Savings and Credit Cooperative, Societal Saving and Credit Cooperative, Kohinoor Hill Savings and Credit Cooperative, Consumer Savings and Credit Cooperative, Lunibha Savings and Credit Cooperative, Vegas Savings and Credit Cooperative, Oriental Saving and Credit Cooperative, Pashupati Saving and Credit Cooperative, Tulasi Multipurpose Cooperative, Hamro Naya Agriculture Cooperative, Shiva Shikhar Multipurpose Cooperative, Agriculture Development Multipurpose Cooperative, Kantipur saving and Credit Cooperative, Shree Laligurans Multipurpose Cooperative, Gautamshee Multipurpose Cooperative, Gorkha Saving and Credit Cooperative, Nepal Sahakari Bittiya Sanstha, and Ideal Yamuna Hamro Multipurpose Cooperatives—the merged entity of five cooperatives.
