Kathmandu, May 30 -- Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has announced that the passports of individuals involved in misappropriating cooperatives funds will be confiscated.

Presenting the national budget for the fiscal year 2025-26 to a joint session of the federal parliament on Thursday, Paudel announced the government plan to seize the passports of cooperatives operators, officials, and individuals involved in the misuse of depositors' savings.

He further stated that the assets of those accused would be seized and auctioned off, and the recovered funds would be used to compensate the affected families through the establishment of a revolving fund.

The fiscal budget also proposes the establishment of a Coo...