Speed up grounding of PMEGP loans: Collector Venkatraman Reddy tells bankers

Tirupati: District Collector K Venkataramana Reddy directed the bankers to speed up grounding of loans under Prime Minister’s Employment Generation Programme (PMEGP) as per the given targets for the current fiscal. Chairing the meeting of the district industrial export promotion committee (DIEPC) at the Collectorate on Friday, he said that out of 268 units received under PMEGP for loans, 212 were approved while 101 have been grounded. Steps should be taken to ground and approve the remaining units. Lead District Manager (LDM) should ensure that banks should focus on this. Under the single desk portal, out of 309 applications for setting up industrial units from April 23, 271 approvals were given while the remaining were under consideration. Out of 55 industries who got incentives, investment subsidy was given to 44, power subsidy to four, interest subsidy to six and stamp duty to one unit were approved. The DIEPC has decided to provide incentives worth Rs 25 lakh to five industries. The committee also reviewed the progress of wood carving cluster at Madhavamala in Yerpedu mandal, copper vessels cluster at Yerramareddipalem of Renigunta mandal, Venkatagiri saree printing and dyeing cluster and powerloom cluster in Narayanavanam and directed the concerned to speed up the works. The Collector directed the officials to ensure safety standards in industries by conducting regular awareness programmes. District industries officer Prathap Reddy, APIIC zonal manager Chandrasekhar, LDM Subhash, deputy labour commissioner Balu Naik, Additional fire officer Kiran Kumar and others attended the meeting.