Kathmandu. Former minister and former president of the National Cooperatives Federation Keshav Badal said that around 200 cooperatives are facing problems not following the norms and values of cooperatives.

He said this while addressing a programme organized by the NRA on the occasion of the first anniversary of the National Cooperative Regulatory Authority (NCA). He also stressed that the NRA should work as per the norms, values, philosophy and principles of cooperatives for maintaining coordination and collaboration between the state and cooperative movement.

According to Badal, he had been involved in the cooperative movement from the formulation of the Cooperative Act, 2048 BS to the promulgation of the constitution.

Also speaking on the occasion, Secretary at the Ministry of Land Management, Cooperatives and Poverty Alleviation, Madan Bhujel, said that the Cooperative Regulatory Authority should be strong and capable and stressed on the need to create an environment where cooperatives carrying out savings and loan transactions are aware. He expressed the view that it would be difficult for the NRA to work without the cooperation and coordination of the cooperative movement.

Chairman of the National Cooperative Regulatory Authority (NCRA), Dr Khagaraj Sharma, said that the NRA was established by amending the Cooperative Act, making policy provisions for sustainable development of cooperatives, transparent regulation and building citizens’ confidence. According to him, so far 3,160 cooperatives are in the process of registration and 260 certificates have been issued.

Vice-president of National Cooperatives Federation Khem Bahadur Pathak said the government should pay attention to make the cooperatives systematic as they were facing the lack of resources and human resources to regulate the cooperatives. He stressed that the Department of Cooperatives and NRA should pay attention to make them functional rather than just issuing more directives.

NRA former chair and former secretary of the government Arjun Prasad Pokharel said security of the people was the responsibility of the government and that the government should pay attention to resolve the problems seen in the cooperative sector. He stressed on the need to maintain the trust of the cooperative sector by emphasizing the system of securing and returning the savings of the people keeping in mind the reality of the world and the reality of Nepal’s economy.

Executive Director of the NRA, Dr. Pushpa Raj Shahi informed that the government has issued working procedures and standards related to terrorism and money laundering in the cooperatives. Stating that the cooperatives have 10 per cent contribution to the employment sector in the world and in Nepal the cooperatives have four per cent contribution to the GDP, he said, urging the government to make effective arrangements for its management and regulation.