Nearly two-thirds of cooperatives operating in Kathmandu district have neither submitted their annual financial reports nor renewed their licenses on time, according to authorities.
Data from the Department of Cooperatives under the Kathmandu Metropolitan City (KMC) shows that only 668 out of 1,848 cooperatives had renewed their operating licenses as of Thursday. In response, the KMC issued a public notice on Saturday, granting a 45-day deadline for non-compliant cooperatives to meet legal requirements.
The metropolitan office reports widespread non-compliance, particularly among savings and credit cooperatives. Of the 1,644 such cooperatives in Kathmandu, 1,085 have yet to renew their licenses, while only 549 have submitted updated financial statements.
Other cooperative sectors are also lagging behind. Among multi-purpose cooperatives, 65 out of 165 have not renewed. Similarly, eight of the 16 agricultural cooperatives and nine of the 13 consumer cooperatives remain unrenewed.
Additionally, one cooperative each from the skill-based, health services, and communication sectors has not completed renewal procedures. In contrast, only two labor cooperatives have updated their details with the KMC.
Authorities have warned that failure to comply within the given timeframe may result in legal action as they push to improve transparency and accountability in the cooperative sector.
