KMC accelerates Merger Of Cooperatives

December 27, 2019 | Investopaper

The Kathmandu Metropolitan City has expedited the merger of cooperatives operating within the metropolis. The process of merging seven cooperatives in the areas of Baneshwor and Putalisadak is underway, said Namraj Dhakal, chief of the administrative department of the KMC. Earlier, four cooperatives in the KMC were merged.

The drive, which is in line with the Cooperative Act 2074 and Cooperative Act of the KMC, 2074 aims to merge around 1,856 operating cooperatives into 700, he said. For the merger, the respective cooperative should apply in the cooperative department of the KMC.

Of the 60 fraud cases filed against cooperatives in the KMC, 35 have been settled, said the department. Likewise, the KMC declared the United Multipurpose Cooperative problematic. Registered in 2064 BS, the cooperative has lost contact since 2074 BS.

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