GOVERNMENT EMPLOYEES CO-OPERATIVE HOUSING SOCIETY LIMITED
201 Saleem Avenue Opp. Masjid Baitul Mukarram,
Main University Road, Gulshan-e-Iqbal, Karachi. Ph:021-34972436-37
NO. GECHS/AGM/4/2011 September 25, 2011
MINUTES OF MEETING
The Annual General Meeting of the Society was held on Sunday the 25th September 2011 at 11:30 a.m. at PASSP Club, ST-4, Block-5, Gulshan-e-Iqbal, Karachi, under the supervision of Cooperative Department Inspector Mr. Nadeem Solangi. A list of 99 members who attended the meeting is pasted in the minute book. The meeting was presided over by Mr. Muhammad Moinuddin Abbasi, President of the Society. The General body transacted following business as per agenda.
1- RECITATION
Mr. Junaid Zaveri recited versed from the Holy Quran.
2- CONFIRMATION OF MINUTES
The minutes of the last Annual General Meeting held on 24.10.2010 were read out by the Hony Secretary who also briefed members in Urdu about contents of the minutes after which the minutes were unanimously confirmed by show of hands.
3- ANNUAL REPORT 2010-2011.
The annual report for the year 2010-2011 was presented by Prof. Syed Tahir Ali Jafri, Honorary Secretary on behalf of Chairman. The aspects focused in the report were as under:
Aims and Objects of the Society
The members were informed that although there are difficulties yet the society is moving ahead with success to achieve its specific object to provide plots to the serving / retired employees of Government, Semi Government and Autonomous Bodies, their relatives and friends on low cost.
Membership
The members were informed that we are quite behind to our target of membership as in the year 2010-2011 only 68 members were added to the previous strength of 822 in the year 2009-2010 for which collective efforts were needed to achieve required membership so that
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cost of land may be completed on its scheduled time. The members were asked to extend their cooperation to increase membership by inciting their relatives and friends to become member
of the society as allowed under the provisions of Bye Laws.
The attention of members was further drawn to the previous issue of 272 members who were mere share holders and had not applied for plot despite issue of Letter No. GECHS/AGM/2010 dated 31.01.2010 under which they were given 3 months time to apply for plot as decided in the last AGM held on 24.10.2010. The house upheld previous decision.
Administrative Matters
The members were informed that with the increase in membership, extension in the use of computer and establishment of SMS, E-mail services and switching to computerized receipts, office work load has been increased manifold which had led to increase in the staff and increase in overall expenditure. Due to these factors, there was an excess of expenditure over income by Rs. 83,798.73 in the year 2010-2011.
The financial intricacies being faced by the society was placed before the house. The attention of members were drawn to the fact that the major source of income for the society is alone service charges of Rs.5,000/- which is collected for once from the new members. Since the membership is on decrease the income is simultaneously on decrease which is further effected due to inflation and price hike causing unbearable financial hardships for the society. The members were asked to extend their cooperation and placed following suggestion of little increase in the service charges.
Area of Plot / Additional Service ChargesYearly Monthly
120 Sq. yd / 600/- 50/-
240 Sq. yd / 840/- 70/-
400 Sq. yd / 1,200/- 100/-
The suggestion was placed before the house for consideration with option to give their own suggestion to cope with the financial scarcity. The house agreed to the above proposal and adopted following resolution.
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RESOLUTION
This Annual General Meeting of the society held on 25.09.2011 gives unanimous approval to the suggestion to charge additional service charges annually @Rs.600/- for 120 sq.yd plot, Rs.840/- for 240 sq.yd plot and Rs.1200/- for 400 sq.yd plot in order to ensure smooth functioning of the society.
L a n d
It was recalled that in view of confidence reposed in the society, land admeasuring 98 acres and 09 ghuntas has been obtained through proper agreement which is located on super highway at a place where projects like Defence Phase 9,10,11 & 12, City University, Education City, Agha Khan Medical Complex, Malir Development Scheme 1, Quaid-e-Azam University and other residential and commercial schemes are already there. The members will be pleased to know that this will be an ideal location in future.
The members were further informed that the society is invariably required to pay monthly installments to the land lord towards cost of land and so far. Society has paid Rs.1,86,26,000/- while Rs.8,15,00,000/- is in balance. The payment towards land is quite slow as majority of members are not paying their monthly installments by 10th of each month as required and presently there is dues of about Rs.50,00,000/- outstanding against various members. The members were requested to make timely payment so that chokry survey and site plan which are held up for want of balance payment towards cost of land will remain held up till required payment is made to the landlord.
Cooperative Audit
The members were informed that first cooperative audit of the society for the period March 2009 to June 2009 and 2009-2010 has been completed and the society has been assigned ‘A’ class of audit classification which manifests that the society is functioning in accordance with the laid down cooperative principles. The only advice given in the audit report was to show cost of corner plot, west open and road facing separately with the cost of land in the Balance Sheet which has already been complied in the account for the year 2010-2011.Earning ‘A’ class of audit classification was attributed to the tireless efforts of Hony. Secretary Prof. Syed Tahir Ali Jafri and hoped that the same result will continue in future.
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Accounts for the year 2010-2011
The members were provided copy of Balance Sheet, Income Expenditure and Receipt/Payment, A/c. for the year 2010-2011 audited by M/S Moazzam Ali Khan for information and comments if any.
DISCUSSION ON REPORT
Payment of Dues
The Hony. Secretary informed members that heavy dues are outstanding against many members who are required to clear their dues with 2% late payment surcharge as provided under the provisions of Bye Laws.
A member Mr. Mujahid Alam, Membership No.354 demanded exemption of surcharge so that members may easily pay their outstanding dues. He suggested that members in arrear may be allowed 2 months time to clear their dues without surcharge and after expiry of 2 months remission period, double surcharge may be recovered from those failing to pay their dues within the allowed period.
Honorary Secretary clarified that the suggestion to increase surcharge is not tenable as the same is not permissible under the provisions of Bye Laws. The Secretary also said that if exemption is granted it will be unfair to those from whom the surcharge has been recovered.
However, due to support of other members, it was decided that exemption of surcharge may be allowed for 2 months to enable members to clear their dues so that schedule of payment to the landlord is not disturbed.
4. Report of Auditor the year ending 30.06.2011
Audit report for the year 2010-2011 was discussed and approved as no member raised any objection.
5. Appointment of Auditor for the year 2011-2012
The audit report being prepared by M/s. Moazzam Ali Khan & Co. was considered satisfactory. The hosue gave unanimous approval to reappoint M/s. Moazzam Ali Khan & Co. for the year 2011-2012.
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6. Any other matter
N I L
Lastly the President thanked the members for their participation in the AGM. There being no other business the meeting ended with a vote of thanks to the chair and dua by Qari. Sarfraz (member of the society) who prayed for the betterment of society, this City and Pakistan.
(Prof. Syed Tahir Ali Jafri)
Hony Secretary