Kathmandu. The Office of the Auditor General has shown that it has to recover Rs 671.9 million from 432 cooperatives.

According to the 63rd annual report of the Auditor General, the Youth and Small Entrepreneurs Self-Employment Fund has to recover Rs 67.19 million from 432 cooperatives, including Rs 57 crore 97 lakh 18 thousand principal and Rs 8 crore 98 lakh 64 thousand in interest and Rs 23 lakh 82 lakh in damage.

According to the agreement, the account should be fixed and the principal, interest and compensation amount should be recovered.

According to Rule 16 of the Fund (Operation) Regulations, 2077, the loan agreement between the youth and small entrepreneurs self-employment fund and borrowers will have a tenure of 5 years and a loan term of 42 months.

According to the details provided by the fund, the fund has lent Rs 2.33 billion till mid-July 2082.