Few takers for PM micro food units

Vijayawada: NTR District Collector S Dilli Rao instructed the officials to identify the beneficiaries to sanction loans for setting up micro units under Pradhana Mantri Formalisation of Micro Food Processing Enterprises (PMFMFPE) scheme.

He conducted a meeting with the officials at the Collectorate here on Tuesday and discussed the promotion of food processing units in the State. He said so far financial assistance has granted to only 17 entrepreneurs against 73 candidates, who applied under the scheme. He said the government has set the target of identifying 500 entrepreneurs for sanction of financial assistance and loan under the PMFMFPE. The objective of the scheme is to set up micro food processing units, he added. The Collector said the applicant has to spend 10% of the investment while 90% will be sanctioned as bank loan. The government gives subsidy of 35%, the Collector said. Dilli Rao informed that the bankers have rejected some applications due to various reasons. He asked the officials to identify the reasons why the bankers have rejected the application and retry to get the loans.

The Collector asked the officials to complete the paperwork by September and ensure that the bank loans should be sanctioned to the applicants by October 2022. He said training will be given to the micro entrepreneurs on packing, branding and marketing of their products.

Later, he interacted with a beneficiary through video call and spoke about the success and progress of the unit set up under the PMFMFPE. The woman entrepreneur, Pavani, said the government has sanctioned Rs 3.50 lakh for setting up of the food and nutrition unit and she got the subsidy of Rs 1.22 lakh. She said the customers are purchasing the food products thereby running the unit successfully. She said the daily sales increased from Rs 3000 to Rs 15,000 per day.