Officials of National Cooperative Regulatory Authority take oath
The government established the authority through an ordinance amending certain Nepal Acts related to cooperatives to address challenges in the sector.
KATHMANDU: The officials of the newly formed National Cooperative Regulatory Authority have been sworn in.
On Monday, Minister for Land Management, Cooperatives, and Poverty Alleviation, Balaram Acharya, administered the oath to Chairman Arjun Prasad Pokharel and three other members.
The government established the authority through an ordinance amending certain Nepal Acts related to cooperatives to address challenges in the sector.
The authority’s central office has been set up in Pulchowk, Lalitpur.
The government can issue necessary directives regarding the authority’s operations.
Its responsibilities include drafting guidelines for the registration, regulation, and supervision of cooperatives, addressing complaints of embezzlement of savings, and exercising authority equivalent to that of district judges.
While administering the oath, Minister Acharya extended his best wishes for a successful tenure and expressed his commitment to promptly appointing staff and completing other essential tasks for the authority.
The authority will coordinate with provincial and local governments to monitor, regulate, and supervise savings and credit-focused cooperatives operating at provincial and local levels.
