Decision to dissolve APROSC

January 12, 2001
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Kathmandu, Jan. 12 : A decision has been taken to dissolve the Agriculture Projects Services Centre (APROSC) Pvt. Ltd. under the Company Act-2053 B.S. and hand over its entire property to the Nepal Agriculture Research Council (NARC) through the Ministry of Agriculture and Cooperatives.

According to a statement issued today by the Ministry, a special general meeting of APROSC held on Jan. 2 had decided to agreed to the proposal of NARC to accept APROSC property and shares for Rs. 93.5 million and to provide all APROSC employees a lumpsum amount at the rate of 1.5 month’s pay for every working year besides the facilities entitled to as per regulations. For this Rs. 60 million would be sought from NARC as a first installment.

The meeting also decided to allow partial use of APROSC property (building) if NARC so wishes, and following payment of the entire amount APROSC would be dissolved as per the Company Act-2053 B.S. and handed over to NARC through the Ministry of Agriculture and Cooperatives.

APROSC was established in 2031 B.S. under the joint share investment of His Majesty’s Government, Nepal Rastra Bank, the Agriculture Development Bank, Nepal Bank Ltd. and Rastriya Banijya Bank with the objective of providing services to His Majesty’s Government and others seeking consultancy.

But taking into consideration that the situation does not call for continued running of APROSC, the special general meeting held on March 9, 2000 decided to close it down after fulfilling all the necessary procedures.