Rs 772.44 million returned to cooperative victims: PM Dahal

KATHMANDU: Prime Minister Pushpa Kamal Dahal has claimed that the government has already facilitated the return of Rs 772.44 million to various cooperative victims.

Responding to a query by Nepali Congress lawmaker Jivan Pariyar in the question & answer session of the House of Representatives on Thursday, Dahal said 6,458 people have received their deposits from different cooperatives.

“Based on 59,987 complaints registered by the cooperative victims, the total liability of Rs 36.28 billion has been determined. Of that amount, Rs 772.44 million has been returned to depositors so far,” Dahal said.

He added that 20 cooperatives have been declared ‘problematic’ so far, and the process of refunding their savings has been initiated through the Problematic Cooperatives Management Committee.

“So far, savings in three cooperatives have been returned to the depositors through the management of their assets,” he added.

Dahal also informed that the government is monitoring nine large cooperatives with the help of the Nepal Rastra Bank. He added that the government has begun preparations to set up a cooperative regulating agency and Cooperative Credit Guarantee Fund.