KATHMANDU: The Citizens Investment Fund has approved the proposed 9 percent bonus share and 8.8947 percent cash dividend allocated in the income distribution account statement of the Fiscal Year 2076/77 BS.
The fund has stated that the decision was taken at the 26th Annual General Meeting of the fund. The General Assembly has also passed the annual report for the fiscal year 2076/77 BS.
The fund has stated that it has passed the balance sheet, profit and loss account and cash flow statement of mid-July 2021 including the auditor’s report.
Currently, the Fund has collected Rs. 172 billion and invested Rs. 171.97 billion.
The net profit of the Fund after tax for the Fiscal Year 2076/77 BS is Rs. 619.67 million. Out of the net profit, the distributable amount is 553.67 million. In order to expand the business of the Fund, the citizen pension scheme program has been started with the objective of engaging the self-employed and foreign employed citizens.
The Fund has also stated that it has started business by establishing a citizen stock dealer company with the objective of providing development, expansion and stability of the country’s capital market.
NLK Web Based Software has been fully implemented in all the programs run by the Fund. The Fund also said that it has completed the work of exchanging data in the Government Accounting System (SIGAS) software of the Government of Nepal.
The Citizen Investment Trust (CIT), a statutory institute under Citizen Investment Trust Act, 2047 BS, has ownership of Nepal Government as a public financial organization. It was established on 18th March, 1991 as an autonomous body.
Formally it has been operating its activities since 15th January, 1992. It operates and manages various types of retirement schemes / programs as well as various unit schemes and mutual fund program for both domestic and foreign investors to encourage the people for saving in order to expand fund and increase the investment opportunities along with the dynamic development of the capital market to contribute economic development of the nation.
CIT encouraging the long-term saving mobilizations by operating Employee Savings Growth Retirement Fund (ESGRF), Insurance Funds for Civil Service’s employees, Teachers, Nepal Army’s Employees, Nepal Police’s Employees, Armed Police Force’s Employees and others institute’s employees to help the depositors for saving to expand fund and increase opportunities to investment along with the development of the capital market.
The head office of CIT is at New Baneshwor, Kathmandu and branch offices are at Pokhara and Biratnagar.
