Lugsam Cooperative gives Rs 1 Lakh to each camp

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Bylakuppe 18 Sept: Tibetan Primary Agriculture Credit Co-operative Society Ltd. of Lugsam Tibetan Settlement held its Annual General Body meeting on 18 Sept 2012. More than 500 shareholders attended the meeting. Following the presentation of annual report by Mr Passang Thakchoe, CEO of the society, Chief Accounts Officer read out last year’s account statement and sought sanction for annual budget for the current financial year from shareholders. Later Section Heads of Fair price shop, Tractor section, Petrol Bunk and Handicraft section read out annual report of their respective section separately.

Chairman of the society Mr. Pema Delek in his address stated, “The society is doing outstanding work and we have managed to build community center and we are donating Rs. 1 Lakh each to all the camps for their maintenance and development. If things go well, in future we can support for road constructions and other major projects”.

Mr. Tashi Wangdu, who was the Chair Person and Chief Guest of the AGM, hailed the society for its overall result and social contribution. He said, “Lugsam co-operative is an example for other co-operatives for its social contribution and overall development. Shopping Complex with 54 shops is contributing a lot for the members as well as society itself in generating income”.

Society also distributed awards to members who contributed maximum in society’s tractor usage, purchase at society’s fair price shop and farmers who cultivated maximum number of acres.