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MINUTES OF THE ANNUAL GENERAL MEETING-2016





Notice of the Annual General Meeting 2016 was published in The Daily Nawa-e-Waqt Lahore on April 28, 2017 and The Daily Pakistan Lahore on April 29, 2017. All members (1822) were also invited through courier service as well as vide their given email addresses. The AGM was held on May 14, 2017 (Sunday) at Defence Services Officers Mess (Services Club), near Girja Chowk, Lahore Cantt, chaired by the President.

Quorum

As per Bye-law No.55, the quorum for 1822 members was 182. At the scheduled time (11:00 AM), it was not complete. Therefore, the meeting was adjourned for one hour and was convened at 12.00 Noon. By that time, 173 members were present which formed the quorum as per said bye-law. The participating members marked their presence on the attendance register. The Assistant Registrar, Cooperative Societies also attended/participated.

Agenda

The following agenda had been circulated to the members vide the invitation for AGM-2016:

i)   Recitation from the Holy Quran.

ii)  Welcome address and review of the progress of the Society.

iii)  Approval of Annual Accounts for the year ended 30th June, 2016 & Annual Budget 2016-2017

iv)  Confirmation of the Minutes of the last Annual General Meeting held on 5th June, 2016.

v)  Ratification of business transacted by the Managing Committee from the last Annual General Meeting to date.

vi)  Confirmation of members admitted or deleted from the Society between July 2015 to June 2016.

vii)  Approval of acquiring land pockets for the Society against allocation of Society's files to respective and potential land owners.

viii)  Approval to raise funds for acquiring land pockets within Society land (approx. seventeen (17) Acres through allocation of Society's files.

ix)  Approval to initiate process for appointment of a Developer for development of the Society.

x)  Amendment in Sub-Section (iii) of Section 82- "Rules of Business" of Alfalah Cooperative Housing Society Bye-Laws.

xi)  Discussions on suggestions and questions of members if any, received up to 8th May 2017.

xii)  Any other item with permission of the Chair.

Item No. 1 Recitation from the Holy Quran


 Qazi Ahmed Irfan, Member of Managing Committee, recited from the Holy Quran. Thereafter, the meeting proceeded according to the Agenda.

Item No. 2 Welcome Address and Review of progress of the Society


1)  The President ACHS, Mr. Mohammad Omer Dogar welcomed the participants.

2)  Assistant Registrar, Cooperative Societies briefed the house about AGM rules.

3)  Mr. Muhammad Akram Saleemi, General Secretary, in continuation to the President's address, gave a presentation/over-view of the Society highlighting the major

  achievements as under:

4)   Got approval from LDA for the change of land status from agriculture to residential use. LDA has revised the Master Plan of Lahore.

5)   Application for Preliminary Planning Permission submitted to LDA for approval.

6)   Soil Investigation Survey of Society land has been completed, which is essentially required for Preliminary Planning Permission and design of engineering services.

7)  The process for engagement of a Developer for the development of society has been initiated.

8)   Land pockets are being acquired by two means:

9)   Directly through negotiation with land owners/potential land owners

10)   Through Government/ Board of Revenue.

11)  Transfer of plot rights has been made easy.

12)   Communicated with the members at intervals (six times).

13)   M/S Mott MacDonald Pakistan appointed as Consultants for topographic surveys, layout planning and design of engineering services for the Society.

14)   General Manager (Technical) has been appointed to look after the technical matters related to the project.

15)   Constant vigilance maintained at site to secure the society land.

4. Presentation by Mott MacDonald Pakistan:


 M/S Mott MacDonald Pakistan made a presentation before the AGM introducing the Company, major landmarks achieved and the work so far carried out on the Society.

Item No.3 Approval of Annual Accounts for the year ended 30th June 2016 and Budget 2016-17.


 The Annual Accounts for the year ended 30th June 2016 were presented by the Finance Secretary, Rai Shahid Amin, which were approved by the House. He also presented Annual Budget of the Society for 2016-17 and variance against allocation, which was also approved by the House.

Item No.3 Item No. 4 Confirmation of the Minutes of last Annual General Meeting held on 5th June 2016.


 The House confirmed Minutes of Annual General Meeting of ACHS held on 5th June 2016. The minutes had already been up-loaded on Society's website & were available.

Item No. 5 Ratification of Business Transacted from last AGM to-date.

Cooption of MC Members


 Mr. Saqib Ahmed Khan (Head Institutional Banking, Finca Bank) and Mian Ulfat Hussain (Area Head, City Area, Habib Metropolitan Bank) were co-opted under Bye Law No. 69 as Managing Committee members against the vacancies, which became available on the resignation of two members.
The House unanimously approved their cooption already made by the Managing Committee.

Appointment of Mott MacDonald Pakistan for Topographic Surveys, Layout Planning and Engineering Design


 Mr. Applications were invited for prequalification of consultants/firms for topographic surveys, town planning and engineering design of the Society through The Daily Jang and The Business Recorder dated 4th August 2016. Sixteen (16) consultants/firms filed their profiles, out of which four (4) consultants/firms were shortlisted. Finally, M/s Mott MacDonald Pakistan were selected against contract price of Rs. 8.50 million after following the prescribed selection procedure. The Consultant will be eligible for any additional fee against the work not covered in the contract but considered necessary for the Consultant Services with the prior approval of the Managing Committee.
The House unanimously approved the appointment of Mott MacDonald Pakistan as Consultant for topographic surveys, layout planning and engineering design of the Society.

Hiring of General Manager (Technical)


 Mr. Ahmed Nawaz (*Ex Director, Housing & Physical Planning Dept., Punjab. Project Manager, Satellite Town, Jhelum (4600 Kanal). *General Manager, CITI Housing, Gujranwala) was employed by the Managing Committee with effect from 16th August 2016.
The House approved his employment.

Reconstitution of Internal Audit Committee


 The Internal Audit Committee was reconstituted by the Managing Committee comprising Mr. Tahir Khurshid - Convener (Head Audit & Inspection Group, Bank Alfalah Limited), Mr. Nauman Rashid - Member (Ex Manager, Kuwait Airways, Abu Dhabi) and Mr. Muhammad Muammar Qureshi - Member (Ex Senior Manager, Network Services, Warid Telecom).
The House approved reconstitution of the Internal Audit Committee.

Item No. 6 Confirmation of Members added/deleted from July 2015 to June 2016


 The House was informed that on 1st July 2015, there were 1838 members and up to June 2016, 88 out of these were deleted and 72 added. Therefore, total members at the closure of the financial year were 1822.
The house confirmed addition & deletion of members keeping in view Bye-law No.14 of the Society.

Item No. 7 Approval of acquiring land pockets for the Society against allocation of 5 Marla residential plots etc. to respective and potential land owners


 Different land pockets are being acquired for developing the Society into a compact and homogeneous block. Due to limited cash available with the society, the Managing Committee decided to first of all involve the Society members for acquiring land pockets. It was also decided to approach land owners/potential land owners for this purpose. Pursuant to the decision, an offer was given to all members vide a letter dated 15th March 2017 to take part in acquiring land pockets. Besides, different land owners/potential land owners were also approached. The land owners/ potential land owners are demanding 45% residential (5 Marla plots), 5% commercial and 5% amenity sites. However, the Managing Committee recommended to pay 45% of acquired land in the form of 5 Marla residential plots, 2% commercial area and 2 % amenity sites.
The House unanimously approved to involve the society members and land owners/potential land owners for acquiring land pockets by paying compensation in the form of 45% of acquired land in the shape of 5 Marla residential plots, 2% commercial and 2% amenity sites.

Item No. 8 Approval to raise funds for acquiring land pockets within Society land (approximately 17 Acres) through allocation of Society's files


 The land pockets measuring about 17 acres were being acquired through the Government/Board of Revenue, which had accorded approval to acquire the land pockets. This rare opportunity could only be made possible with the collective efforts of the Managing Committee's members. The Collector, Lahore District, Lahore had issued the notification under Section 4 and further proceedings were under way. The members were invited through a letter dated March 15, 2017 to take part in acquiring the land pockets and apply within stipulated time period i.e. March 29, 2017. There was a positive response and a number of members showed willingness on this offer as per our requirements. Due to limited cash available with the Society, the Managing Committee recommended to pay the land compensation in the form of 45% of acquired area in the shape of residential plots of 10 Marla size and 2% commercial plots.
The House unanimously approved this proposal.

Item No. 9 Approval to initiate process for appointment of Developer


 The Managing Committee approved to engage a Developer for the development of the Society at this stage. The Developer was required to complete development work of the Society within a maximum period of three (3) years to a minimum standard similar to DHA Phase-VI, obtain no objection certificates and approvals from all relevant authorities, assist and facilitate in acquisition matters. Besides, minimum 50% construction and development will be carried out by the Developer's own funds in return for residential (area) and commercial (files). To ensure transparency, applications for prequalification had been invited through the daily Nawa-e-Waqt, Jang, Business Recorder and Dawn. The society may decide to impose an extra rate for the corner plots in the residential area. The commercial plots in the colony shall be given in an open auction and shall not be allotted as such. The restriction on allotment of commercial plots shall not be applicable for commercial plots given against or during the society land acquisition and/or exchange phase or to potential partners, developers and investorsThe House unanimously approved to initiate the process for the appointment of a Developer for the Society.

Item No. 10 Amendment in Sub-Section(iii) of Section 82- Rules of Business of Society's Byelaws


 According to Sub- Section (iii) of Section 82- Rules of Business of Society's Byelaws, the commercial plots in the society shall be given in open auction and shall not be allotted as such. Due to limited cash available with the Society, the Managing Committee approved that the land compensation for acquiring land pockets be paid in the form of residential and commercial plots to the land owners/ potential land owners as well the prospective Developer in lieu of initial construction and development cost proposed to be borne by him. The House unanimously approved that restriction on allotment of commercial plots shall not be applicable for commercial plots given against or during the society land acquisition and/or exchange phase or to the potential partners, developers and/or investors.
Reproduced below:

Existing Bye-Laws


 The society may decide to impose an extra rate for the corner plots in the residential area. The commercial plots in the colony will be given in an open auction and will not be allotted as such.

Proposed amendment in -Bye-Laws


 The society may decide to impose an extra rate for the corner plots in the residential area. The commercial plots in the colony shall be given in an open auction and shall not be allotted as such. The restriction on allotment of commercial plots shall not be applicable for commercial plots given against or during the society land acquisition and/or exchange phase or to potential partners, developers and investors.

Item No. 11 Questions/Answers and Discussion on Suggestions of the Members, received up to May 08, 2017


 All the members were invited through notice of AGM/agenda to send their suggestions/complaints by 8th May 2017. No formal suggestions/complaints were received up to the said date. However, President relaxed the rules and asked the audience for questions. Then different questions were raised out of which three were similar. The audience suggested that the Managing Committee should take action against the defaulters as per Bye-Laws and suspend their membership.

 One member, Mrs. Ayesha Mussadaque Hamid (membership # 01859) raised observation that the Society and other members had suffered due to the defaulters and suggested necessary action against them. One of the audience enquired about the society's capability to meet the development and construction cost for development of the Society. The President said that the arrangement of entire funds was included in his wish list but at least the major portion of required finances will be made available from society's own resources (commercial & surplus land assets) in any case. The President agreed to take up the matter about the defaulters with the Managing Committee.

Item No. 12 Any other item with Permission of the Chair


 No item was put forward by any member for seeking permission of the Chair.

The House appreciated the efforts of President, Managing Committee and the staff.



 Alfalah Cooperative Housing Society (Ltd.)

   Thank you . . . . .





 
 
 
 
 
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