Oli says the government is working on formulating laws and setting up agencies to return money to cooperative depositors.

In an address to the nation on the occasion of his government’s 100th anniversary, Prime Minister KP Sharma Oli said he has taken a series of decisive actions, focusing on combating cooperative fraud and promoting development initiatives.

Oli announced that the government had filed legal action against more than 600 people involved in the cooperative scam. “Today, more than 575 of these individuals are already behind bars,” he said. He also stressed that along with prosecuting offenders, the government is working to return savings to depositors after the development of the Cooperative Governance Act and the establishment of a cooperative credit information center and a loan recovery court.

The Prime Minister released the details as members of Rastriya Swatantra Party, party chairman Rabi Lamikhane, staged protests in Pokhara after Lamikhane was arrested and subsequently taken to Kaski. A complaint has been registered with the Kaski district police office accusing Lamichhane of misusing millions of rupees contributed by common people to the Pokhara-based Suryadarshan cooperative.

Prime Minister Oli assumed office for his third term on July 15.

Apart from tackling financial irregularities, Oli also claimed significant achievements in the first 100 days of his rule. The Prime Minister proudly noted that out of 274 targets planned by various ministries, 185 were completed – an impressive success rate of 70 percent. He attributed the failure to complete the tasks to adverse natural events, but assured the public that the remaining projects were on track for completion.

Addressing the recent natural disasters, Oli outlined the government’s immediate response, saying, “We have provided relief to over 2,555 families affected by floods and landslides by distributing relief worth Rs 450 million.” He added that 71 local units in crisis-hit areas have received Rp 430 million to help restore basic services such as water, electricity and roads.

Oli also highlighted efforts at economic reform, saying 15 million dairy farmers and 75,000 sugarcane farmers have received long-awaited payments for their produce. Moreover, to promote youth entrepreneurship, the government has provided interest-free startup loans of up to Rs 2.5 million to 165 applicants, he said.

On the international front, Oli highlighted the key milestone by noting, “We have entered into a tripartite agreement with Bangladesh to export 40 megawatts of power.”

Prime Minister Oli reiterated his commitment to good governance, promising that “this government will not compromise on development, good governance or national interest.”