•      Fri Sep 29 2023

NEFSCUN demands separate act for financial cooperatives

Kathmandu, Aug 17: Nepal Federation of Savings and Credit Cooperative Unions (NEFSCUN) has demanded the government introduce a separate act targeting financial cooperatives.

Speaking at a programme organised on the occasion of the 36th establishment day of NEFSCUN here, the organisaion said the act was needed to further systematise the cooperative sector.

NEFSCUN President Paritosh Poudyal said the procrastination of bringing the act had posed challenges for the sector.

He said good governance and security were the priorities of the fiscal cooperatives movement ahead. Poudyal urged all the stakeholders concerned to uphold cooperatives principles, norms and values and self-regulation to preserve the essence of cooperatives.

Secretary at the Ministry of Land Management, Cooperatives and Poverty Alleviation, Gokarnamani Duwadi, advised the people associated with the cooperative sectors to proactively contribute to the establishment and growth of the cooperative movement, taking the cooperative sector to a new height.