Khurshid reviews progress of PMEGP; Rs. 2.43 Cr released to 204 unit holders

JAMMU: Rs. 2.43 crore have been released as margin money among 204 unit holders sponsored by Industries and allied departments under Prime Minister’s Employment Generation Programme (PMEGP) for establishing self-income generating units while 500 cases are targeted to be sponsored during  current financial year in Jammu division under the scheme.

This information was given to the Financial Commissioner Industries and Commerce, Mr Khurshid Ahmad Ganai while reviewing the progress of the PMEGP schemes at Bankers’ Monitoring Committee Meeting here today.

Highlighting the importance of the scheme, the Financial Commissioner said that the progress of the scheme is being monitored at PMs’ level and asked the bank authorities and officers of line Department to maintain close coordination with each other to ensure timely disbursement of loan to the beneficiaries.

Financial Commissioner asked participating officers to encourage those, who come forward for establishing their own income generating unit, adding that need is to bring more educated and un-employed youth under the ambit of this scheme.

Underlining need for carrying out physical verification of the units being set up under the PMEGP, Mr Ganai said that regular interaction with the unit holders will help in smooth running of the business units being set up under the scheme. He asked concerned officers to inspect all units on regular basis and provide necessary guidance and expertise to unit holders for making their units profitable and viable.

Expressing displeasure over the poor performance in certain districts, FC instructed concerned district heads to gear up so that the targets fixed for the year are achieved in full. He also asked banking authorities to issue necessary instructions to their branch heads for making the loan sanctioning process fast so the  purposes are accrued for which the scheme has been introduced in the State.

Terming bankers and KVIB as equal contributors in providing employment opportunities to the rural youth, FC advocated for reorientation of Central Banking policies to ensure adequate lending to small entrepreneurs, especially the youth from rural areas.

          Secretary KVIB, State Director, KVIC, heads of DICs, representatives from several nationalized banks including JK Bank, Deputy CEO, KVIB Jammu were also present in the meeting.

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