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Pokhara, Nov 10: Cases of embezzlement in Gandaki Province’s cooperatives are rising. So far, investigations by the Province Cooperative Registrar and court cases cover 21 cooperatives, with reports showing over Rs 5.63 billion misappropriated.

Pokhara’s Prime Cooperative tops the list, with Rs 1.54 billion embezzled. Other major cases include Kumari Cooperative in Myagdi at Rs 1.49 billion, Image Cooperative in Baglung at Rs 1.33 billion, and Pokhara Savings and Credit Cooperative at Rs 887 million. Smaller but notable cases include Mitramilan Cooperative in Pokhara (Rs 268.6 million), Kalika Cooperative in Lamjung (Rs 91.1 million), Bindhyabasini Cooperative in Pokhara (Rs 76.9 million), Tapai Hamro Cooperative in Parbat (Rs 299.8 million), and Chhipchhipe Cooperative in Nawalpur (Rs 166.8 million).

Several cooperatives, such as Lamjung’s Kalika Cooperative, have started partial or full settlements to return deposits. The Registrar’s office has forwarded investigation reports to the police, which have launched legal proceedings, including pre-trial detentions.

This fiscal year, over 40 cooperatives were monitored. Nineteen cooperatives violating laws were fined Rs 1.061 million, and 351 cooperatives received notices for potential deregistration. So far, three cooperatives have been officially deregistered, while complaints about 31 more are under review. Gandaki has 2,671 cooperatives across all government levels, with 901 under provincial supervision, 318 of which are inactive.

Provincial cooperatives hold Rs 13.93 billion in share capital, Rs 60.47 billion in savings, and have issued loans worth Rs 63.62 billion, of which Rs 4.5 billion remains overdue. Investments include Rs 64 million in industry, Rs 373 million in agriculture, Rs 209 million in external loans, and Rs 189 million in other ventures. Cooperatives maintain a reserve fund of Rs 473 million, with 694,219 members, 3,235 staff, and 5,481 management committee members.

Weak governance, poor internal controls, and risky loans without adequate collateral have fueled these losses. Many cooperatives diverted reserve funds for bonuses and failed to recover loans, creating a crisis of trust and halting savings collection. Registrar Bhesraj Rizal recommends stricter government oversight, regulatory software, and legal measures holding both managers and borrowers accountable to prevent further collapses.

People’s News Monitoring Service