Alarmed by an outbreak of mismanagement among cooperatives, the Nepalese govt has decided to bring in a new bill to strengthen the cooperative sector in the country, reports a news outlet My Republica.
The new bill to integrate and amend cooperatives act seeks to put in place provisions that will check conflict of interest of board directors, malpractice in cooperatives like having multiple membership and run like a family business as well as drawing a line between board and management of a cooperative.
The government has also proposed restricting any board director from involving into decision making process when there is personal or private interest.
The new bill has also granted authority to the Ministry of Cooperatives and Poverty.
