KATHMANDU: The National Cooperative Federation today drew the attention of Prime Minister and UML Chairman KP Sharma Oli regarding the need to avoid restrictive measures while regulating the cooperative sector.

During a meeting held at the Prime Minister’s residence in Baluwatar, a delegation led by Federation Chairperson Om Devi Malla raised concerns over the directives and standards issued by Nepal Rastra Bank and the National Cooperative Regulatory Authority.

They pointed out that the current limits on deposit collection (10%) and loans (15%) are unbalanced, and emphasized the need for provisions allowing transactions within three months of membership.

The delegation also suggested amendments to several provisions of the bill introduced to replace the ordinance that amended certain Nepal cooperative laws.

Former Minister and former Federation Chair Keshav Badal, Khagaraj Adhikari, head of UML’s Central Cooperative and Poverty Alleviation Department, and Secretary of the Ministry of Land Management, Cooperatives and Poverty Alleviation, Kedar Nath Sharma, among others, participated in the discussion.

Prime Minister Oli assured that the government would facilitate appropriate management by introducing laws, policies, and directives to ensure smooth operation and regulation of the cooperative sector.