Oli says government working to formulate laws, set up agencies to return cooperative depositors money

Kathmandu / Oct 23: In an address to the nation marking 100 days of his government, Prime Minister KP Sharma Oli claimed to have taken a series of decisive actions, focusing on tackling cooperative fraud and advancing development initiatives.

Oli announced that the government has initiated legal action against over 600 individuals involved in cooperative fraud. “To date, more than 575 of these individuals are already behind bars,” he said. He further emphasised that alongside prosecuting offenders, the government is working to return savings to depositors after formulating a Cooperative Authority Act and the establishment of a Cooperative Credit Information Centre and Loan Recovery Tribunal.

The prime minister made the details public at a time when members of Rastriya Swatantra Party chair Rabi Lamichhane have been staging protests in Pokhara after Lamichhane was arrested and subsequently taken to Kaski. A complaint has been registered at the Kaski District Police Office accusing Lamichhane of misusing millions of rupees deposited by common people at the Pokhara-based Suryadarshan Cooperative.

Prime Minister Oli assumed office for his third stint on July 15.

In addition to cracking down on financial misconduct, Oli also claimed significant achievements during his administration’s first 100 days. The prime minister proudly mentioned that out of 274 tasks planned across various ministries, 185 had been completed—an impressive 70 percent success rate. He attributed the incomplete tasks to adverse natural events but reassured the public that the remaining projects are on track for completion.

Addressing recent natural disasters, Oli outlined the government’s immediate response, stating, “We have provided relief to over 2,555 families affected by floods and landslides, distributing Rs450 million in aid.” He added that 71 local units in crisis-hit areas had received Rs430 million to help restore essential services like water, electricity, and roads.

Oli also celebrated efforts in economic reform, announcing that 15 million dairy farmers and 75,000 sugarcane farmers had received long-awaited payments for their produce. Additionally, in a bid to promote youth entrepreneurship, the government has disbursed interest-free startup loans of up to Rs2.5 million to 165 applicants, he said.

On the international front, Oli highlighted a key milestone, noting, “We have secured a tripartite agreement with Bangladesh for the export of 40 megawatts of electricity.”

PM Oli reaffirmed his commitment to good governance, vowing that, “This government will not compromise on development, good governance, or national interests.”