Commission report blames weak regulation and political interference for cooperative crisis
Summary
A commission report identifies weak regulation, political interference, and lack of transparency as the key causes of the cooperative sector crisis in Nepal, highlighting embezzlement and mismanagement issues.
Key Points
- Weak regulation, political interference, and non-transparent operations are main causes of the cooperative sector crisis.
- Approvals for cooperative registrations and expansions were granted without proper study or standards.
- Political affiliation of cooperative operators and managers contributed to the crisis.
- Government is committed to reforming the sector with strengthened monitoring, law amendments, and loan recovery efforts.
