Cooperative victims sign seven-point pact with govt, withdraw protest

KATHMANDU: Cooperative victims have withdrawn their sit-in protest being held at Maitighar Mandala, Kathmandu, after signing a seven-point agreement with the government.

The agreement was signed after a meeting between the representatives of the victims and government officials held in Singha Durbar on Thursday. Minister for Land Reforms, Cooperative, and Poverty Alleviation Ranjeeta Shrestha, Secretary Gokarna Mani Duwadi, and Registrar at the Department of Cooperatives Nawaraj Ghimire, among others, were present in the meeting.

As per the agreement, the ministry will initiate the process of establishing the savings and credit security fund to ensure the safety of deposit amounts for cooperative members. Likewise, the ministry has also agreed to create a credit information center and credit settlement tribunal to recover loans extended by saving and cooperatives.

Likewise, the government has agreed to include a minimum of representatives of the victims in the task force that the government has formed to recommend reforms in the cooperative sector.

The cooperative victims had been staging their protest at Maitighar Mandala for several months.

The MoU further states that the ministry will collaborate with the Office of Problematic Cooperatives Management Committee to create a clear action plan for the return of depositors’ money.