FM links govt support to PSUs with performance
SFC all set to get refinance from SIDBI
GK NEWS NETWORK
Jammu, Dec 21: Minister for Finance, Abdul Rahim Rather today asked the J&K State Financial Corporation (J&K SFC) to provide hassle-free credit to the entrepreneurs and ensure zero default in recoveries.
The minister asked the corporation to play its role in the development of Micro, Small and Medium Enterprises (MSME) and allied sectors, which he said help employment generation and growth of state’s economy.
Speaking at the 228th meeting of its Board of Directors, here this afternoon, Rather said that corporation’s contribution in the development of MSME sector in the state has earlier been significant.
He said all possible logical support would be given to the corporation to restore its past glory provided it showed performance. “The government support to every Public Sector Undertaking (PSU) will now be strictly performance linked,” he said.
Rather enjoined upon the SFC management to put in place a strong monitoring mechanism to ensure target oriented recoveries.
Rather announced payment of remaining 34 per cent of 6th Pay revision in favour of the employees of the corporation. Earlier the Board had released two instalments of 33% each in favour of the employees.
Managing Director, SIDBI who was present on the occasion, agreed in principle to restore refinance facility to the corporation from April 2013.
Lastupdate on : Fri, 21 Dec 2012 21:30:00 Makkah time
Lastupdate on : Fri, 21 Dec 2012 18:30:00 GMT
Lastupdate on : Sat, 22 Dec 2012 00:00:00 IST
- MORE FROM BUSINESS
Right Time For Community To Think Of Coming Back: Omar
New Delhi, Dec 21: Promising to restore sense of security in Kashmiri Pandits who left the Valley two decades ago, Jammu and Kashmir Chief Minister Omar Abdullah Friday asked the community to explore possibility More
- Srinagar City
Authorities mute spectators
Srinagar, Dec 21: In blatant violation of norms, agricultural land in Srinagar district is shrinking at a fast pace with booming illegal colonies and constructions coming up on it under the nose of authorities More
Bifurcation of Directorate of Colleges
Jammu, Dec 21: The government seems to have put the proposal of bifurcation of Directorate of colleges into the back burner as no headway has been made on the issue since the process was started about More