Annual General Body Meeting of MCL held

Annual General Meeting of Mugh Limited held. CHITRAL: Annual general meeting of Mugh Company limited held in a local hotel under the chair of Engineer Sardar Ayub Regional Program Manager of Agha Khan Rural Support Program (AKRSP). Israruddin briefed the participants in his welcome address. He also read minutes of last general meeting. He also explained in his presentation regarding company performance and financial statement. The stakeholders jointly appointed Shahid Wahid younus Jamil Chartered Accountant as Auditor for the year 2009-10. The share holders were offered by RPM of AKRSP for one free share on two share holding. He said that Mugh is a symbolic name using for Chitral patti (warm cloth for Weskit which making from the wool of sheep). Majority of women folk preparing Mugh Patti which was later on developed and upgraded to Mugh Company limited. As per the shareholder each share pricing 10 rupees and a share holder bound to purchase at least 100 share worth rupees 1000 minimum rate of the share. Last year 100 share were given free of cost on each 100 share but this year 100 share is giving on 200 shares. Hence only those persons can purchase these share who related to this industry. Miraj Khan member of Aga Khan Development Network said that AKRSP has launched in 1984 from a small office but now it is an umbrella NGO and so many small organizations working under AKRSP. He stressed on stakeholders and share holders should to work hard and patiently promote this sector which is mailing stone in development of the entire district. He said that by this way we can alleviate poverty to improve skill capacity in the people and to motivate them for cooperative schemes of small business. He said only joint efforts and collective thoughts can eradicate our grief and poverty. He said that Multi Input Area Development is an approach towards enhancing life standard and development of the area. Israruddin announced that share worth of 450000 are available for sale and minimum payment of shareholder is 1000 rupees. He said that application for share purchasing would be collected until Nov 16 and it would be forwarded on Nov 30 of this year. A large number of women folk and men participated the general body meeting who shared their comments regarding promoting of Mugh limited. G.H. Farooqi PO Box No. 50 GPO Chitral Pakistan phone No. +92 3025989602, 0943-302295, 414418 Email: gulhamad@gmail.com