NCFN Acting Chair Ramesh Prasad Pokharel: Cooperatives Driving Financial Literacy and Capital Mobilization in Nepal
5th April 2026, Kathmandu
The cooperative sector in Nepal stands at a critical crossroads, balancing immense structural growth with the urgent need for reform. Recently, NCFN Acting Chair Ramesh Prasad Pokharel highlighted that despite current challenges, the cooperative movement has achieved monumental success in capital mobilization and spreading financial literacy across the country.
NCFN Acting Chair Cooperatives Driving
In a detailed dialogue, Pokharel discussed the path forward for the National Cooperative Federation of Nepal (NCFN), the government’s role in returning depositor funds, and the legislative hurdles currently facing the movement.
Global Principles and Local Impact
According to NCFN Acting Chair Ramesh Prasad Pokharel, the Nepalese cooperative movement is firmly rooted in international values and philosophies. With over 32,000 cooperatives operating nationwide, the sector has become a primary vehicle for financial inclusion.
“The cooperative movement is not just about financial transactions; it is a companion from birth to death,” Pokharel remarked, emphasizing the deep social integration of these institutions.
A standout achievement noted by the Acting Chair is the empowerment of women. Currently, 56% of the members in Nepal’s cooperative network are women, showcasing how the movement contributes directly to the UN Sustainable Development Goals (SDGs) and local economic independence.
Addressing the Liquidity Crisis and Depositor Refunds
The most pressing issue for the sector remains the return of savings to depositors in troubled institutions. NCFN Acting Chair Ramesh Prasad Pokharel praised the new government’s commitment to resolving this crisis.
Key highlights of the refund strategy include:
Prioritizing Small Savers: Plans are underway to refund depositors with balances under 100,000 NPR, gradually moving toward a 500,000 NPR threshold.
Asset Liquidation: Pokharel urged the state to establish a dedicated fund to convert the fixed assets of troubled cooperatives into liquid cash to facilitate faster payouts.
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Clearing the Backlog: Out of approximately 80,000 refund applications, data suggests that nearly 40,000 (50%) can be settled through current systematic management and existing capital pools.
Legislative Reform: The 46-Law Hurdle
One of the major barriers to the evolution of cooperatives is legal inconsistency. NCFN Acting Chair Ramesh Prasad Pokharel pointed out that while the Cooperative Act 2074 empowers cooperatives to engage in diverse industries and businesses, nearly 46 other interrelated laws (such as the Company Act and Industry Act) act as obstacles.
For cooperatives to truly drive the national economy, Pokharel argues that these legal “bottlenecks” must be cleared, allowing cooperatives to operate industries without bureaucratic overlap.
A New Chapter in Leadership
The transition in leadership comes at a pivotal time. Following the resignation of Om Devi Malla due to health and family reasons, the responsibility has fallen to Pokharel.
As NCFN Acting Chair, Ramesh Prasad Pokharel is now tasked with leading the federation toward the 69th National Cooperative Day (Chaitra 20), focusing on transparency, member-centric policies, and restoring public trust.
Conclusion
The message from NCFN Acting Chair Ramesh Prasad Pokharel is clear: the cooperative movement remains a “cornerstone” of Nepal’s economy.
By separating fraudulent actors from value-driven institutions and securing government cooperation for depositor refunds, the sector is poised to move past its current “crisis mode” and back into its role as a driver of national prosperity.
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