PM Prachanda assures coop, microfinance victims of resolving crisis

Kathmandu, Feb. 21

In an effort to addressing the issues in the cooperative and microfinance sector, Prime Minister Pushpa Kamal Dahal 'Prachanda' has called the representatives of microfinance and co-operative victims to his office at the Singha Durbar and discussed their issues.

During the discussion with the Prime Minister, the representatives of the affected parties thanked the government for the initiative to solve the problems of cooperatives and microfinance and drew the attention to solve the problem as the earliest, the PM's secretariat informed in a statement on Wednesday.

In response, PM Prachanda said that the government is taking necessary steps to solve the problems of the people affected by the recent crisis in cooperatives and microfinance.

Although the microfinance and cooperative sector has helped in providing loans to the deprived communities and supported in business operations in the past, this sector is facing crisis recently.

"These two sectors have been performing well and supporting the rural and underprivileged citizens in their livelihood. However, some situational difficulties and the dishonesty of some operators created crisis in them," said PM Prachanda while assuring the victims that the problem will be solved accordingly.

Warning that the problems of the microfinance and cooperative sector may develop into a cycle, the Prime Minister said that it is the responsibility of one and all to take initiative to solve the problems responsibly.

Prime Minister Prachanda said that he would talk to the officials of the Prime Minister's Office and the Nepal Rastra Bank in order to find effective solutions to the crisis. 

 Published in The Rising Nepal daily on 22 February 2024.