Kathmandu. The government is preparing to refund the money to the cooperatives’ savers from the third week of May. Minister for Land Management, Cooperatives and Poverty Alleviation Pratibha Rawal has said that the government is preparing to return the money to the cooperatives savers from the third week of May.

Minister Rawal said this while speaking at a press conference of the troubled Cooperative Management Committee.She also pledged to formally start the savings withdrawal process from the third week of May.

Minister Rawal also mentioned that loan recovery is the basis for returning the savings of cooperatives. She has also made it clear that the government will take strict steps for this.

According to her, the list of borrowers who have taken loans from problematic cooperatives and failed to repay on time will be made public through the ministry’s website.The government is also preparing to stop the public services provided to the borrowers to make the loan recovery process more effective. 

The Ministry has been continuously coordinating with the stakeholders including Nepal Rastra Bank and the Office of the Attorney General to resolve the cooperative problems.Minister Rawal claimed that the big borrowers who are absconding will be brought under the legal ambit and the loan will be recovered from them and the money of the savers will be returned safely. She also said that the secretary and joint secretaries of the ministry will provide technical clarity on the modality and additional action plan for the return of savings and the government is fully committed to this issue.