Nepal’s cooperative funds allegedly linked to NATO countries, MP Prem Suwal raises concerns

KATHMANDU: In a recent parliamentary session, Nepal’s Member of Parliament (MP) Prem Suwal, representing the Nepal Workers and Peasants Party, drew attention to the alleged misuse of funds from Nepalese cooperatives.

According to Suwal, billions of rupees from the country’s cooperatives have reportedly been diverted to serve the interests of NATO countries, specifically military organizations.

Speaking at the House of Representatives on Sunday, Suwal raised serious questions regarding the management and potential misdirection of funds collected by cooperative institutions at the district, provincial, and national levels.

He expressed concerns over the growing evidence suggesting that Nepalese cooperative resources have been funneled into foreign military alliances.

Suwal also questioned the government’s plans to dissolve around 17,000 cooperative institutions and the fate of the funds that have been invested by ordinary citizens in these institutions.

He called on the government to take immediate action, ensuring the return of savings to the victims of alleged fraud within these cooperatives. “The assets of cooperative bank and institution officials who are involved in mismanagement and fraud should be frozen, and their passports should be confiscated to safeguard the public’s savings,” Suwal remarked.

Additionally, Suwal highlighted the importance of prioritizing national interests over political positions such as the presidency or premiership.

He argued that in order to serve the nation effectively, industrial and business activities are essential, as relying solely on taxes collected from the public will not suffice.

The comments from Suwal have sparked widespread discussion, as citizens and lawmakers alike demand clarity on the management of cooperative funds and the government’s efforts to address potential corruption and misallocation of resources.