KATHMANDU: National Cooperative Federation, Nepal today drew the attention of Prime Minister K P Sharma Oli on the need to avoid contraction in the cooperative sector during regulation. In a meeting held today at the Prime Minister’s residence in Baluwatar, a team led by Federation President Omdevi Malla raised demands including that the guidelines and standards issued by the Nepal Rastra Bank and the Cooperative Authority are unbalanced concerning the 10 percent deposit and 15 percent loan arrangement under the resource collection limit, and that there should be provisions allowing transactions to be made within three months of membership.

Prime Minister Oli assured that the government will facilitate the management according to the laws, policies, and directives that will be introduced for the smooth operation and management of the relevant sector.

He has suggested modifications to some provisions of the bill brought to replace the ordinance introduced to amend certain Nepal cooperative laws.

Khagaraj Adhikari, head of the Central Cooperative and Poverty Alleviation Department of the CPN (UML), former president of the federation Keshav Badal, and Secretary of the Ministry of Land Management, Cooperatives and Poverty Alleviation Kedar Nath Sharma were present on the occasion.