KATHMANDU: Minister for Land Management, Cooperative and Poverty Alleviation Kumar Ingnam has admitted that the Problematic Cooperative Management Committee failed to work in a speedy manner as expected.

During a meeting with the cooperative victims on Saturday, Minister Ingnam said that the Committee could not work as per the aspirations of the victims.

“The Committee has failed to work in a pace as per the aspirations of the victims. More than Rs 45 billion should be managed in 23 cooperatives. The Committee of seven members cannot work immediately for the management of such a huge amount,” Minister Ingnam added.

He shared that the Committee could not work due to lack of expertise despite enough rights.

The Committee should be proactive to record the statements and seize the properties from the embezzlers, the Minister said.

It is said that the Committee has management Rs 4.12 billion so far. The number of victims is supposed to have more than 74,000 cooperative depositors.

During the meeting, the victims of the cooperatives urged the minister to resolve their problems at the best earliest possible time.