President Paudel Issues Ordinance on Cooperatives

President Ram Chandra Paudel has issued an ordinance related to cooperatives. Acting on the recommendation of the Council of Ministers, President Paudel promulgated the ordinance on Sunday to amend certain Nepalese Acts related to cooperatives.

The ordinance was approved in last Tuesday's cabinet meeting.

It proposes the establishment of a "National Cooperative Regulatory Authority" to regulate cooperative institutions.

The proposed five-member authority will include a chairperson, an expert in the cooperative sector, a chartered accountant, and a joint secretary from the Ministry of Cooperatives.

The government believes this ordinance will play a significant role in making the cooperative sector more organized and effective.