Kathmandu. The 31st annual general meeting of the Citizens Investment Trust (CIT) has concluded. The AGM of the fund has endorsed a proposal of distributing 5 percent bonus shares and 8 percent cash dividend from the income of the last fiscal year 2081/82 BS.

The net profit after tax of the fund stood at Rs 1.25 billion in the last fiscal year. Out of this, Rs 25.12 crore has been deposited in the general reserve fund and the remaining amount has been distributed as dividend.

The fund has collected Rs 266.65 billion from various savings programmes in the last fiscal year 2081/82 BS while the reserves have reached Rs 296.89 billion by the end of the current fiscal year.

The AGM approved the fund’s annual report, statements of profit or loss and details of cash flow for the FY 2081/82 (2081/82). The AGM unanimously elected Narayan Prasad Ghimire on behalf of the general public.

In the AGM, Chairman of the Fund, Tulasi Prasad Ghimire, said that it was positive that the shareholders were satisfied with the dividend of the last fiscal year and showed interest in the service facilities and career development of the employees of the fund. He pledged to work in a far-sighted manner to make the organization more systematic.

Fund’s executive director Parbat Kumar Karki pledged to address the suggestions presented by the shareholders in the AGM. He also claimed that the organization is being developed as a well-governed institution.

Executive Director Karki said that there have been complications in the recovery of the loan investment made by the Fund in Nepal Airlines Corporation. Stating that the government of Nepal has been ‘guaranteed’ while taking loan for the purchase of aircraft, he expressed the hope that the government would recover the loan sooner or later.

Likewise, the fund has been spent in education, disaster management and reconstruction sectors as part of its corporate social responsibility. According to Karki, the data of the fund is being digitized gradually and the data storage is being made safer.