Kathmandu. The meeting of the House of Representatives today passed the ‘Cooperatives (First Amendment) Bill, 2083’.

The bill was passed by a majority after discussion on the bill brought to replace the ordinance and the concerned minister’s reply.

Responding to the queries raised during the discussions, Minister for Land Management, Cooperatives, Federal Affairs and General Administration Pratibha Rawal said that this separate bill was necessary in the context of Nepal being enlisted in the global grey list in regard to money laundering. She expressed her commitment to incorporate the suggestions received while bringing the upcoming bill.

During the discussions, the lawmakers stressed that the cooperatives concerned should return the money to the savers and not the government, the cooperatives should be given jurisdiction to work only at the local level where they are registered and there should be a central body for regulation.