Formation of Authority on the cards to troubleshoot issues of cooperatives

Kathmandu: Minister for Land Management, Cooperative and Poverty Alleviation Balaram Adhikari has said that the formation of an Authority is on the cards to regulate and monitor the cooperative institutions of all three layers of government, so as to ensure a sustainable solution of the problems seen in the sector. Responding to the queries of the lawmakers in the House of Representatives (HoR) meeting on Thursday, Minister Adhikari said that the decision made to form the Authority has been sent to the Ministry of Finance for the latter's nod. "For the setup of such mechanisms, the budget has been allocated in the upcoming fiscal year's budget," according to the Minister. He shared that the Ministry of Land Management, Cooperative and Poverty Alleviation was serious for the sustainable solution of the existing problems of the cooperative sector. Likewise, he said that 20 cooperative organizations were declared troubled and the management of those cooperatives is being done by the "Troubled Cooperative Mana gement Committees" and the claims from the depositors have been made through online system and so far 59,587 claimants have lodged their applications. Furthermore, Minister Adhikari said that the government has initiated a process to form a Commission by involving the experts adding that the National Land Commission failed to get the expected achievements to resolve the issues of landless, squatters and unmanaged settlements. Source: National News Agency Nepal