June 23: Ending months of uncertainty, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has decided to hold its annual general meeting (AGM) on August 11-12. A virtual meeting of executive committee of FNCCI held on Monday finalised the new date of AGM. The meeting which went onto six hours took the decision to this effect unanimously. According to Shekhar Golchha, senior vice president of FNCCI, a meeting of the organisation’s office bearers on Sunday proposed the AGM for August 10-11 which was deferred by a day to August 11-12 due to a technical reason.

The AGM, which was originally scheduled for April 10-11, was postponed to May 20-21 due to the lockdown. The second schedule was also not met because of extension of lockdown and Covid-19 fears. This situation led to increase in dispute between the various factions within FNCCI. As per the statute of the organisation, the AGM was to be organised within mid-April which can be extended for three months in case difficulties are encountered to hold the general meeting. The new date has been set using the special authority for resolving complications clause of the statute.

However, there are still doubts that the AGM will be organised on the given date. “We hope that the situation will start to normalize by mid-August. If not, there will be postponement of AGM,” said Umesh Lal Shrestha, vice president (commodity) of FNCCI, adding, “Currently, protecting people from coronavirus contagion is more important than holding an event.”