Prime Minister of Nepal Pushpa Kamal Dahal directed the Ministry of Finance to propose a tangible solution for addressing the grievances of cooperative victims. Over the past decade, numerous cooperatives, including Oriental and Guna, swindled billions from depositors, reports Nepal’s media outlets.
Despite government committees and reports, little progress has been made in resolving these cases. Dahal expressed concern for the depositors left stranded by poorly-governed cooperatives and urged concrete plans.
Finance Minister Prakash Sharan Mahat suggested creating laws for Nepal Rastra Bank to regulate cooperatives involved in significant financial transactions. The government’s efforts so far have only provided relief to a few victims.