Cooperative victims put off protest with seven-point deal

A seven-point memorandum of understanding (MoU) has been signed between the government and cooperative victims.

According to the MoU, the depositors of the cooperative organizations put off their sit-in protest underway in Maitighar Mandala on thursday.

A discussion to this effect was held among Minister for Land, Cooperative and Poverty Alleviation Ranjeeta Shrestha, Secretary Gokarna Mani Duwadi, Registrar at the Department of Cooperatives Nawaraj Ghimire and victims in Singha Durbar on thursday.

Information Officer at the Department of Cooperatives, Tolraj Upadhyaa shared that an agreement was made for the ministry to put forward a process for immediately instituting the savings and credit security fund to ensure safety of the deposit amount of cooperative members.

"As per the decision, the ministry would immediately initiate a process to establish a credit information centre and credit settlement tribunal to make credit settlement process of the cooperative organizations effective and efficient", he informed.

Likewise, an agreement has been made to include representation of the depositors of cooperative organizations staging sit-in protests in the cooperative sector reform recommendation task force.

Another point of agreement was to initiate necessary groundwork on behalf of the ministry, cooperative department and embattling management committee for existing legal reforms.

The cooperative victims have been staging their protest in Maitighar Mandala for the past couple of months.

The decision was made for the ministry to coordinate with the Office of Problematic Cooperatives Management Committee by charting out a clear action plan while returning depositors' money, the agreement stated.