Kathmandu. Kathmandu: Protests have started over the ‘Regulatory Standards 2082’ issued by the National Cooperative Regulatory Authority regarding the operation of savings and credit cooperatives.

The taskforce formed by the National Cooperative Federation to press for amendment of some provisions on the issue of standards has said that it will intensify its activities.

A meeting of the Regulatory Standards Amendment Facilitation Task Force formed as per the decision of the Secretariat Committee of the Federation held on June 27, 2018, on Wednesday decided to intensify the debate advocacy, if it does not solve the problem.

The meeting was held under the chairmanship of FNCCI Senior Vice-President and Task Force Coordinator Ramesh Prasad Pokharel. In the meeting, the taskforce concluded that there was confusion in the cooperative sector due to different directives from different bodies – Nepal Rastra Bank, Regulatory Authority, Cooperative Department, state government and local levels.

The meeting also held the newly appointed chairman of the Regulatory Authority. It has been decided to meet Khagaraj Sharma immediately and inform him about the impact of the current directives on the cooperative sector and urge him to amend the standards immediately. In addition, the task force is preparing to study the 102-point unified directive issued by the Department of Cooperatives recently and welcome its positive aspects and demand reforms in the provisions that create discomfort.

The taskforce has already met Prime Minister KP Sharma Oli under the leadership of FNCCI Chair Om Devi Malla. During the meeting, the Prime Minister assured detailed discussions. Senior Vice-Chair Pokharel said that the task force is also preparing for the same. Similarly, the taskforce has already submitted a charter of demands to the Regulatory Authority and held meetings with the general secretaries of major political parties, chiefs of cooperatives department and other stakeholders.

Senior Vice-Chairman Pokharel said that the activities of the taskforce would be further enhanced with the aim of strengthening the savings and credit cooperative campaign with good governance to provide financial services to the general public. FNJ vice-president DB Basnet is the co-coordinator of the taskforce.

FNCCI Director Paritosh Poudyal, NAFSCOON President Chandra Prasad Dhakal, Bagmati Province Cooperative Association President Ram Sharan Sharma Ghimire, Bagmati Proskun President Uddhav Sapkota, and Savings and Credit Cooperative Association Chairmen deepak Paneru, Ramhari Bajgain, Krishna Govinda Lakhaju, Udayram Kayastha and Kalpana Shrestha from Kathmandu, Lalitpur, Bhaktapur, Kavre and Makawanpur districts respectively.

The technical team comprises FNCCI Acting General Manager Gopi Krishna Bhandari, NAFSCOON CEO Shivaji Sapkota and Bagmati Proskun CEO Keshav Dahal.

The taskforce has made public a concrete action plan in the near future and indicated to create widespread pressure in the interest of the cooperative sector.