Katmandu, January 22
The Problematic Cooperatives Wealth Management Committee (PCWMC), which was formed by the government to assess assets and liabilities of troubled Oriental Cooperative and others and compensate the depositors, has become dysfunctional as the tenure of its members has ended.
The committee’s chairperson Yubaraj Subedi also recently tendered his resignation following the government’s decision to transfer him to the Commission for Investigation of Enforced Disappeared Persons (CIEDP).
As the government, especially the Ministry of Land Management, Cooperatives and Poverty (MoLMCP), is yet undecided about the new members and chairman of the committee, it has become dysfunctional.
“As per the existing law, the tenure of different members of the committee ended today. Since its chairman has also recently resigned, the committee will be dysfunctional for the next few days,” informed Deepak Khadka, undersecretary at the MoLMCP.
As the existing legislation has a provision to either give continuity to existing members or appoint new members in the committee, Subedi informed that MoLM- CP will soon decide on this matter. “The MoLMCP will decide whether to appoint new members or give continuity to existing members in the committee and take the proposal to the Cabinet,” he added.
However, Subedi admitted that the leadersh