KATHMANDU, APRIL 30
President Ramchandra Paudel issued the Cooperative (First Amendment) Ordinance, 2083, on Thursday afternoon.
Presidential Office Spokesperson Ritesh Kumar Shakya confirmed that the ordinance was issued on the recommendation of the Council of Ministers under Article 114(1) of the Constitution.
The ordinance includes provision for savings-and-loan cooperatives to obtain an operational licence and establishes a rotational relief fund for the immediate return of savings to members of distressed institutions - a provision long awaited by thousands of small depositors unable to recover savings locked in troubled cooperatives across the country.
The government had also forwarded four other ordinances to the President for authentication - amending the Constitutional Council (Functions, Duties, Rights and Procedures) Act, certain Nepal Acts, health science and university-related laws, and introducing special provisions for the dismissal of politically appointed public officials.
President Paudel, however, is understood to be seeking constitutional counsel before acting on those measures, reflecting the political sensitivity of provisions that directly affect appointments and dismissals across Nepal's constitutional and public bodies.
