Debt Recovery Tribunal to be formed

Kathmandu, Oct 24: Minister for Land Management, Cooperatives and Poverty Alleviation Balram Adhikari has said that a debt recovery tribunal will be formed to solve the problems seen in the financial cooperatives sector.

At a press conference held today to inform about the achievements of the work done by the ministry in 100 days, Minister Adhikari said that the cooperatives regulatory body will be formed within mid-November. Stabilization Fund Establishment and Operation Procedures for Savings and Credit Cooperatives, 2076 has been amended and implemented to solve the problem of liquidity of cooperatives.

He said that the Land Regulations, 2021 will be updated while a workflow chart has been prepared for the public service delivery to give the service users information about the services that seek from the institutions under the ministry.

Secretary at the Ministry, Arjun Prasad Pokharel, said that since land is also the source of people’s livelihood work needs to be carried out sensitively on it. He shared that a strong institutional arrangement is going to be made to solve the problems of financial cooperatives. –––RSS