LAHORE, Nov 14: In what is being seen as a clever move to pre-empt his critics seeking his resignation, Aptma chairman Waqar Monnoo has convened an (emergent) meeting of the Central Managing Committee here on Monday to mull over organization’s Memorandum & Articles of Association and constitute a committee to “study them (quite in line with the demands of the dissenters) to address the changes, if any, required on a war footing”.
The committee, if set up by the CMC, would consider and review members’ voting rights in proportion to subscription charged from them and rationalize the structure of Aptma dues — the two major demands made by his critics in the compromise deal offered to him a couple of days back.
It would also review proportionate representation of spinning, weaving, finishing and value-added industry in the composition of the CMC.
The proposed committee would also determine the requirement of quorum for the meetings of the CMC and general body, and consider granting membership to the value-added textile industry, that is, finishing, knitting, and garmenting.
It will also make recommendations to bring uniformity of zonal bye-rules of three Aptma zones in conformity with its Articles of Association.
Besides establishing the committee, the CMC will also consider and decide future course of action on letters received from a few senior Aptma members, expressing their intention to withdraw their companies’ membership of the association. The CMC meeting agenda, provided by the Aptma secretariat, would also mull “proposals to consider admission or cancellation of membership(s)”.
Meanwhile, the Aptma chairman has sent letter to the chief executives of all member mills, sharing his views on the crisis caused by demand made by his opponents to seek his resignation and his “vision” on issues that require attention of the CMC in the days to come.
“I will request you to guide and support me in my endeavours,” he has urged the members in the letter.
In his letter, he admits that the articles of Aptma had become obsolete to deal with the “complex business structures”. Over the next decade the nature of business would become further complex.
“We, therefore, need to revisit the articles of association to cater to emerging corporate structures so that we can accommodate more dynamic industry without sacrificing interests of any unit,” he states.
He has sought “as many members as possible to come forward and volunteer to become part of the proposed committee for the review of the articles or send their views”.
In an obvious reference to his opponents’ efforts to move a no trust motion to remove him, he has urged them to “desist from any activity that would harm the interest of Aptma at large”.
“Personal grudges and egos must be subservient to the interest of the association. Their more than substantial energies could be diverted to benefit both Aptma and Pakistan. The cotton crisis in the country demands that we all put our heads together and find a solution. Inter-association bickering would only hurt our members interests.”
In order to mollify the dissenters, the letter states that his desire “is to lead Aptma under the guidance of all the seniors of the association”.
DISSENTERS CLAIM: In the meantime, the dissenters claimed to have obtained 135 resignations against Mr Monnoo.
“These resignations are with Committee of Elders chairman Mian Abdullah,” said a senior Aptma member who refused to give name.
He insisted that the convening of the CMC meeting or formation of the proposed committee for the revision of Aptma’s articles of association would not resolve the crisis.
“Mr Monnoo will have to resign, let a consensus candidate head the association for 90 days to carry out the required reforms and accept the will of the members if he is sincere with Aptma,” said he.
