Concern over delay in grounding schemes

  • | Wednesday | 15th November, 2017

The Majlis-e-Ittehadul Muslimeen has expressed concern over the inordinate delay in grounding schemes under bankable loan schemes for minorities that was being implemented through the Minorities Finance Corporation. The government had incurred actual expenditure of ?69 crore against the ?150 crore allocated under the scheme last financial year. During the current fiscal, ?45 crore of the allocated ?150 crore had been released and actual expenditure of ?22.5 crore was incurred by the end of the second quarter. The department stopped inviting applications from eligible beneficiaries under the scheme which promised 80 % subsidy and 20 % loan component subsequently. The department could save ?150 crore in the construction costs as the tenders with close to 20 % lesser prices were received after putting in place transparent tendering process.

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