The government committee formed to resolve Nepal’s major cooperative scam has itself become dysfunctional. The Problematic Cooperative Management Committee has failed to make progress in returning Rs 39.935 billion in frozen deposits belonging to 62,760 savers. The committee has declared 27 cooperatives problematic but operations stalled after victims laid siege to the office on November 20 and 21, prompting officials to stop reporting to work. While some depositors with balances below Rs 100,000 have received refunds, most savings remain locked, leaving thousands in financial distress.
