KATHMANDU: The parliamentary special committee investigating the misappropriation of cooperative funds has called upon Maha Prasad Adhikari, the Governor of Nepal Rastra Bank, for discussions.
The committee met with Governor Adhikari and other officials on Monday to address the pressing issues facing the cooperative sector. The meeting is part of the committee’s ongoing efforts to identify and resolve the problems plaguing cooperatives.
In addition to the Governor, the committee has previously engaged with high-ranking officials, including Home Secretary Eak Narayan Aryal, Inspector General of Nepal Police Basanta Bahadur Kunwar, and Additional Inspector General of Police Shyam Gyawali.
These discussions are aimed at gathering insights and suggestions from various sectors to develop comprehensive solutions for the cooperative sector’s challenges.
The committee has also solicited input from parties in the House of Representatives (HoR) to gain a broader perspective on the issues and potential solutions. By involving diverse stakeholders, the committee hopes to formulate effective strategies to address the misappropriation and ensure the stability and integrity of cooperatives.
In a significant move, the committee summoned the directors of 29 problematic cooperatives to provide firsthand accounts and explanations for the issues within their organizations. This step underscores the committee’s commitment to a thorough investigation and accountability in the cooperative sector.
The misappropriation of cooperative funds has been a longstanding issue, causing significant financial distress for many members who rely on these institutions for their savings and financial needs.
The parliamentary committee’s proactive approach in engaging various stakeholders reflects a determined effort to tackle this problem head-on.
Governor Adhikari’s participation in the discussions highlights the central role of Nepal Rastra Bank in regulating and overseeing financial institutions, including cooperatives.
The insights and solutions generated from these meetings are expected to guide policy reforms and regulatory measures to prevent future misappropriations and restore confidence in the cooperative sector.
As the investigation progresses, the committee’s findings and recommendations will be crucial in shaping the future landscape of cooperatives in Nepal, ensuring they operate transparently and effectively to serve their members.