Debt Recovery Tribunal in the pipeline

KATHMANDU, OCTOBER 25: Minister of Land Management, Cooperatives, and Poverty Alleviation, Balram Adhikari, announced that a Debt Recovery Tribunal will be formed within a few days to address issues in the cooperative sector. Speaking at a press conference yesterday to highlight the ministry's achievements in its first 100 days, he promised that a regulatory body for cooperatives would be established by the month of Kartik (mid-October to mid-November). He also mentioned that the ministry has revised and implemented the Stabilization Fund guidelines to resolve liquidity issues faced by savings and credit cooperatives.

The minister added that the draft report for the Cooperative Promotion Fund Operational Guidelines is ready. "The work is underway to collect feedback from stakeholders on a draft law to set up a regulatory body to oversee cooperatives at all three government levels. In addition, the Cooperative Savings and Credit Protection Fund Regulations draft has also been prepared."

Minister Adhikari shared that the ministry is working on updating the Land Regulations, 2021, to match current needs. A workflow chart has been developed to help people understand the service procedures at the Land Revenue and Survey Offices. He noted that during this period, the ministry achieved 52 targets—including 25 planned goals and 27 additional ones.

The ministry’s secretary, Arjun Prasad Pokharel, stressed that land management must be handled with care, as land is a key source of income for many citizens. He also informed that efforts are being made to strengthen institutional management to resolve problems in the cooperative sector.