President issues ordinance to set up cooperative regulating body

KATHMANDU: President Ram Chandra Paudel has issued an Ordinance for Amendment to Some Cooperative-related Nepal Act, 2024.

A cabinet meeting held on Tuesday had approved some amendments to the Cooperative Act and forwarded it to the Office of the President in the form of an ordinance.

“President Paudel has issued the Ordinance for Amendment to Some Cooperative-related Nepal Act, 2024, on the recommendation of the Council of Ministers as per Article 114 (1) of the Constitution of Nepal, 2015.

Among others, the ordinance paves the legal way for the government to form the Nepal Cooperatives Regulatory Authority – a regulatory body for the cooperative sector.