Parliamentary task force submits report to PM Prachanda

Kathmandu, May 28: The task force formed to develop the terms of reference (ToR) of the parliamentary probe committee has presented its report to Prime Minister Pushpa Kamal Dahal 'Prachanda' today. This has led to an end in the parliament impasse after a political consensus was forged for it.     

The task force formed under the coordination of the Minister for Law, Justice and Parliamentary Affairs, Padam Giri, today submitted the report to the Prime Minister at the Office of the Prime Minister and Council of Ministers.     

On the occasion, PM Prachanda thanked all task force members including the coordinator for fulfilling their role efficiently.     

The task force has determined the committee's TOR to give suggestions by carrying out a study regarding the crisis of cooperatives, laws related to it, institutional purpose, regulations of the financial system, supervision and transparency.     

The committee will carry out a study and recommend measures to protect the savings of depositors of financial cooperative institutions that are in a crisis and help return the funds at risk and that have been misused.     

The terms of reference (ToR) of the Parliamentary Committee, will be to study and analyze the process of returning the savings of the cooperatives that have been designated as problematic and to suggest ways to return the savings immediately.     

 The Committee was also mandated to investigate the complaints by members and depositors of co-operative societies about embezzlement, misappropriation and improper transactions of money deposited in financial co-operatives, and of the complaints registered at various levels and agencies about the illegal transfer of funds from co-operative institutions to other companies or organizations such as Gorkha Media Network, Pvt. Ltd. It shall also recommend measures to recover the amount at risk and action against those involved in the irregularities.     

The term of office of the seven-member committee will be three months. The committee will study 29 problematic cooperatives as well as other cooperatives.

Task force members Jeevan Pariyar, Mahesh Kumar Bartaula, Shishir Khanal, Hitraj Pandey and Gyanendra Bahadur Karki were also present on the occasion. (RSS)