Kathmandu. The government has clarified that the amount received from the loan recovery of the troubled cooperatives has been returned to the affected savers. The Problematic Cooperative Management Committee under the Ministry of Land Management, Cooperatives, Federal Affairs and General Administration has issued a press release and drew the attention of the public to the public complaints and confusion that the savings have been returned from the state treasury.

According to the Problematic Cooperatives Management Committee, the process of returning the savings of small savers with less than 10,000 savings claims of 20 cooperatives declared as problematic is being done in a phased manner.However, the Cyclical Fund has not yet been established.

According to the committee, loan recovery from the problematic cooperatives and the return of savings to the savers of the related cooperatives from the amount received from the property management is being operated continuously as per the prevailing legal provisions ।

The statement states, “As of now, the committee has not established a cyclical fund and the account has not been operated, however, the collection of loans from the problematic cooperatives and the repayment of savings to the savers of the concerned cooperatives from the amount received from the property management has been continued as per the prevailing legal provisions.” is being notified through this press release for all concerned that {{} is operating{{{}. ’

Item No. 100 of the lists approved by the meeting of the Council of Ministers of the Government of Nepal on 2082/12/13 In order to implement the provision in Rule 99, the Government of Nepal, Council of Ministers has issued the ‘Setting up of a Circular Fund Rotational Fund and Relating to the Withdrawal of Savings of the Members of the Problematic Cooperative Management Committee, 2083′ under the Problematic Cooperative Management Committee.

The committee has stated that it is working by giving priority to the recovery of the loan } and is returning the amount recovered from the borrowers of the cooperative to the savers of the cooperative.