The House of Representatives has extended the term of the parliamentary special committee investigating the misuse of public funds by various cooperatives by 15 days.

After Surya Thapa, chair of the special committee, tabled a proposal citing that the time allocated to his team was insufficient to probe the issue and substantiate the findings with evidence, the lower house of parliament agreed to extend the committee’s tenure.

“As the special committee chair, Thapa requested an additional 15 days, citing that the time was insufficient despite working on public holidays. The House unanimously agreed to the extension,” Speaker Devraj Ghimire said after Tuesday’s meeting.

Earlier, the committee chair noted that even with work conducted on public holidays and beyond regular office hours, more time was needed. “As the committee's term is set to expire on 7 September, and given the need for further verification of the information and facts gathered to safeguard cooperative depositors’ funds, I am presenting this proposal through the Speaker for a 15-day extension,” Thapa stated during the meeting.

The House of Representatives formed the parliamentary committee to investigate the misuse of public funds by various cooperatives on 28 May. The seven-member committee’s three-month term is due to expire on 7 September. The committee began its work on 5 June.

Thapa updated the parliament on the committee's progress, stating, “As the cooperative issue has become a severe national problem, the committee has been working to identify the root causes and solutions. We have consulted various stakeholders, experts, and agencies involved and conducted discussions and inquiries accordingly. Various officials and security personnel directly and indirectly involved in cooperative regulation have been in contact with the committee.”

He further informed the House that the committee had already completed questioning 50 individuals accused of involvement in the misappropriation of funds from various cooperatives.

“The committee has also been engaging with cooperative-related bodies at the federal, provincial, and local levels to coordinate and collaborate on the investigation,” Thapa said.