Rajouri: District Level Task Force Committee headed by Additional District Development Commissioner A S Chib approved 46 projects worth Rs. 2.82 crore for setting up of micro enterprises under Prime Minister Employment Generation Program.
The committee comprising General Manager Industries Shafiq Choudhary, Functional Managers Yasir Arafat, Khalil-ur-Rehman, Abdul Jabbar and representatives of various financial institutions screened and scutinized 150 cases and 46 projects were selected for credit linkage through financial institutions after thorough analysis of viability of proposed projects and the entrepreneurial skills of the applicants.
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.
Giving details, GM DIC informed that cases from both urban and rural areas with 10-25 Lakh project cost each 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.
