Kathmandu. The troubled Cooperative Management Committee is preparing to recover loans from big borrowers of cooperatives and return the amount to small savers. Organizing a press conference, the committee informed that it is preparing to return the savings from the third week of May. 

According to the committee, about 76,000 savers of troubled cooperatives across the country are yet to repay about Rs 46 billion. 

Chairman Dilliraj Acharya informed that the committee has taken forward both the work of repaying savings and recovering loans simultaneously.According to Acharya, all the savers will get the amount back proportionately. According to him, the committee is working to recover the loan in order to return at least 50 percent of the savings to the savers in the first phase.

The committee has given priority to the big borrowers in the recovery of loans. He said that the newly formed committee had recovered Rs 7.3 million loan from 40 people in 11 days. Similarly, savings of Rs 9 lakh have been adjusted. Acharya said that the committee will seek the help of the government and Nepal Police for the recovery of the loan as it is not possible to return the savings without recovering the loan.

According to Acharya, in the first phase, the names of those who have not repaid the loan will be made public.He said that the loan recovery process will be started by arresting those who do not come in contact even after the names are made public. 

At present, the committee has a deposit of about Rs 600 crore, which includes Rs 25 crore revolving fund allocated by the government.He said that the committee will use the Rs 250 million as a loan only in case of emergency and will start returning the savings from the Rs 350 million collected by the committee. According to him, the committee will run separate accounts for expenses and payments.