President Paudel issues Cooperative Ordinance
Summary
President Ramchandra Paudel issued the Cooperative (First Amendment) Ordinance to regulate savings-and-loan cooperatives and establish a relief fund for distressed members' savings.
Key Points
- President Ramchandra Paudel issued the Cooperative (First Amendment) Ordinance, 2083.
- The ordinance allows savings-and-loan cooperatives to obtain operational licenses.
- A rotational relief fund will enable immediate return of savings to members of distressed cooperatives.
- President Paudel is consulting constitutional experts before approving four other sensitive government ordinances.
