Jalandhar, July 2, 2020: Deputy Commissioner Jalandhar Ghanshyam Thori today exhorted the captains of Micro Small and Medium Enterprises (MSME) to take maximum mileage of Emergency Credit Line Guarantee Scheme (ECLGS) started for helping them in this hour of crisis.
Divulging the details, the Deputy Commissioner said that the Government of India has announced a new scheme namely Emergency Credit Line Guarantee Scheme (ECLGS) for helping MSME by providing additional Working capital on term loans up to 20% of outstanding credit without, any Collateral. He said that in order to coordinate with eligible MSMEs and Financing Institutions and also with Industrial Associations, the Punjab government led by Chief Minister Captain Amarinder Singh has under ‘Mission Fateh’-aimed at the resurgence of state from COVID 19 pandemic, constituted an ECLGS Cell in the office of the Director Industries Punjab with members including Consultant Punjab Bureau of Investment Promotion Mr. Tushar Tulsian, Chief Manager cum Nodal Officer State Level Bankers Committee Naresh Kumar Sharma and Joint Director (Credit), Department of Industries & Commerce, Punjab Sarbjit Singh. Thori said that any issue regarding sanctioning of loan and disbursement of loan faced by the MSME could be brought into the notice if Tushar Tulsian or directly to the Director Industries of Punjab.
The Deputy Commissioner said that he would be personally reviewing the scheme of a regular basis so that maximum disbursement could be made to MSME units by the end of this month. He asked the bankers to ensure 100% sanctioning of loan applied under the scheme to them by July 15th and complete disbursement till the month-end.Thori, while reiterating the firm commitment of the state government to give a fillip to industrial growth in Punjab, said that every effort would be made to bail out the MSME units in this hour of crisis due to global pandemic.