Kathmandu - Galkot Ghumte Multipurpose Cooperative Limited successfully concluded its 21st Annual General Meeting (AGM) on Saturday in Kathmandu, reaffirming its steady financial position and future growth strategy despite the ongoing economic slowdown.
The AGM, held at Anmol Banquet in New Baneshwor, was chaired by Cooperative Chairperson Prashant Dhakal, with Nepal Rastra Bank Director Buddharaj Sharma attending as the chief guest. Addressing the gathering, Sharma highlighted the cooperative sector as a vital pillar of Nepal’s economy, emphasizing that good governance, transparency, and members’ trust remain the foundation of sustainable cooperatives.
Presenting the annual report for fiscal year 2081/82 (2024/25), Chairperson Dhakal stated that the cooperative has maintained financial stability amid challenging economic conditions. He reported consistent growth in key indicators, including share capital, deposit mobilization, and loan investment, reflecting sustained confidence among members.
The Accounts Committee, represented by its Coordinator Jyoti Shrestha, confirmed that the cooperative’s financial activities were conducted in line with regulatory provisions, cooperative principles, and internal procedures. The report underlined the institution’s commitment to financial discipline and transparency. The AGM unanimously approved the audit report for fiscal year 2081/82 along with the proposed budget and programs for fiscal year 2082/83 (2025/26). Decisions were also taken on auditor appointment, dividend distribution, inactive share membership issues, and employee leave provisions.
According to the financial disclosures, the cooperative’s share capital reached approximately NPR 28.22 million by the end of fiscal year 2081/82, with a target of increasing it to NPR 30 million in the coming year. When combined with other reserve funds, the cooperative’s overall capital base has strengthened further.
Deposit mobilization has remained a key area of growth. Total deposits exceeded NPR 441.71 million in fiscal year 2081/82, and with positive momentum continuing, the cooperative has set an ambitious target of raising deposits to NPR 500 million in fiscal year 2082/83. This growth indicates a healthy liquidity position and provides a strong base for expanding lending activities.
On the lending front, loan investment stood at over NPR 333.39 million in fiscal year 2081/82. The cooperative has proposed to increase this figure to around NPR 450 million in the current fiscal year, while continuing to prioritize safe and responsible credit flow. Investments in shares and fixed assets are also planned to increase gradually, further diversifying the cooperative’s asset portfolio.
The income and expenditure statement shows that interest income remains the cooperative’s primary revenue source, supported by other operating income. For fiscal year 2082/83, total income is projected at approximately NPR 52.83 million, while total expenditure-covering interest, operational, management, and staff costs-is estimated at around NPR 47.5 million. The cooperative has emphasized efficient expense management to maintain financial balance.
As part of its social responsibility initiatives, the cooperative honored more than a dozen senior citizens during the AGM, recognizing their contributions to society with shawls and certificates of appreciation.
The event witnessed the participation of share members, board members, representatives from the accounts and supervision committees, employees, and well-wishers. The program was conducted by cooperative member and Nerik Academy Principal Milan KC.
Overall, the AGM reflected a cooperative that is steadily strengthening its financial foundation while prioritizing transparency, member trust, and responsible growth-key factors for long-term sustainability in Nepal’s cooperative sector.
