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255 PROJECTS WORTH RS. 12.26 CRORES APPROVED
POONCH
The District Level Task Force Committee which met under the chairmanship of District Development Commissioner Poonch Mohammad Aijaz Asad approved 255 projects worth Rs. 12.26 Cr for setting up of micro enterprises under Prime Minister Employment Generation Programme (PMEGP).
The committee comprising of General Manager Industries Manzoor Hussain, Functional Managers Tariq Aziz and Waheed Ahmed, district officers of KVIB, SC/ST/OBC corporation Director RSETI and representatives of various financial institutions has taken 270 cases of both District Industries Centre Poonch as well as Khadi Village Industries Board for screening and scrutinizing.
After thorough analysis of viability of proposed projects and the entrepreneurial skills of the applicants, the meeting selected 255 projects for credit linkage through financial institutions. Rs 5 Cr Projects pertained to DIC whereas Rs 7.26 Cr to KVIB. The projects under service, manufacturing and trading sectors were selected which included projects for Hollow blocks, tiles, dehydrated chips, walnut processing units etc.
Giving details, the DDC informed that cases from both urban and rural areas with 10-25 Lakh project cost have been approved. He said these cases will be processed in a time bound manner for sanctioning of loan and each entrepreneur will be facilitated and guided in setting up of unit till it turns out to be profit yielding enterprise.
He said that for each project, 65-75 percent of the project cost will be provided in the form of bank loan whereas 15-35 percent of subsidy will be provided by the government for establishment of income generating units in manufacturing and business/service sectors. The subsidy will be routed through the concerned banks directly into the accounts of beneficiaries.
