Kathmandu. KATHMANDU — The Ministry of Land Management, Cooperatives, Federal Affairs and General Administration has come up with a 10-point action plan to control problems, irregularities and growing complaints of savers in the cooperative sector.

The ministry has written to all seven provinces and local levels to implement the action plan. According to the Ministry, a 10-point action plan has been brought to increase surveillance on cooperatives operating illegally across the country and to identify the real situation of defunct cooperatives.

According to the action plan, all cooperatives will be compulsorily included in the COPOMIS system. Similarly, updating the details and records of the institutions as per the Cooperative Act will be expedited.

The ministry has also directed the government to prepare a list of cooperatives that have not held its general assembly, audited or affiliated to COPOMIS for more than two years and collect details. According to the ministry, this will identify inactive and risky cooperatives and pave the way for necessary action.

The ministry has also asked the cooperatives dealing with savings and loans to verify whether they have obtained the necessary licenses to operate financial transactions and coordinate with the National Cooperative Regulatory Authority for the same.

The action plan also includes up-to-date records of orders, directives, fines and other actions issued after the monitoring and further monitoring and supervision of institutions found to be at financial risk.

Suggestions have been sought from the province and local levels for necessary legal reforms to make cooperative administration, registration, regulation, monitoring and scrapping process more effective. The ministry has asked the government to send its suggestions within 15 days.