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DoC Introduces Guidelines To Check Rampant Merger of cooperatives
DoC Introduces Guidelines To Check Rampant Merger of cooperatives
www.reviewnepal.com
Kathmandu, Nepal September 06 2022
Kathmandu, Nepal, September 6, 2022: Withstanding to the growing merger trends of cooperatives, the Department of Cooperatives (DoC) has adopted restrictive measures by introducing new guidelines for the cooperatives looking for their merger.
As per the new guidelines, the cooperatives registered under the same working area can only go to the merger process and such a merger process should be initiated only after holding a joint meeting among their members and the office bearers.
Similarly, a five-member task force should be formed by getting approval from the board meetings of the cooperatives concerned to prepare the conditions and working guidelines for the merger of the cooperatives.
Likewise, the cooperatives seeking merger should set a timeline for merger with specific action plan. Evaluation report of their assets and liabilities has to be prepared by recruiting a valuator.
With the preparations, a notice has to be published in a national level media, giving the deadline of 15 days to receive public grievances.
The DoC has introduce the guideline at a time when a large number of cooperatives have stepped up their efforts for merger while many have already merged sans following the guidelines.
