Depositors’ money should not be embezzled: Deuba

Patan (Lalitpur), Feb. 2: Nepali Congress President and former Prime Minister Sher Bahadur Deuba has said the money deposited by the commoners in cooperatives should 

not embezzled.

President Deuba said it while inaugurating a daylong seminar his party organised on 'Nepali Congress and Cooperatives' at Sanepa on Saturday. The economic policy and role of cooperatives as advocated by the BP Koirala in 2016 BS still carry much significance, he said, adding that the public, private and cooperative initiatives work as pillars of 

nation's economy.

Leader Deuba stressed, "Cooperative must run as per its values and principles so that it can ensure economic prosperity." The depositors' money must not be risked, he argued.

The government has brought a new act that is favourable to cooperatives, according to him.

On the occasion, former secretary of Nepal government, Gopinath Mainali, viewed the cooperative board members and general members must not be the same persons. The sheer decline in self-regulation resulted in present problems, he commented.

He further argued that cooperatives and business must be clearly differentiated. "It was worrying to treat cooperatives as finance companies. Cooperatives must win people's trust for credibility," Mainali underlined, adding that citizen's awareness about cooperatives also plays a significant 

role in it.

Another former secretary Rameshwor Khanal however said the cooperatives run in rural areas were still working effectively.