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Govt to set up Telangana Industrial Health Clinic
The State government has accorded approval for setting up of Telangana Industrial Health Clinic as a Non-Banking Finance Company (NBFC). It also accorded permission for TSIDC Limited to anchor the establishment of health clinic and permit its Joint Managing Director, to take up the incorporation process and incur the required expenditure.
The non-banking finance company will cater to the development needs of MSEs with a focus on diagnostic and clinical facilities for sick and incipient enterprises
Hyderabad: The State government has accorded approval for setting up of Telangana Industrial Health Clinic as a Non-Banking Finance Company (NBFC). It also accorded permission for TSIDC Limited to anchor the establishment of health clinic and permit its Joint Managing Director, to take up the incorporation process and incur the required expenditure. Issuing a GO on Thursday in this regard, the government also approved appointment of Dr Yerram Raju as Advisor of the Industrial Health Clinic for one year initially on contract basis.
It also approved appointment of M Sanjaya as Chief Executive Officer of the Industrial Health Clinic for two years. Principal Secretary, Industries & Commerce Department, Commissioner of Industries and Joint Managing Director of TSIDC Limited were appointed of as the first Directors of the proposed Company.
According to officials, the State government has a progressive industrial policy that received appreciation from all stakeholders. As part of this policy, committing to healthy growth of industries, in particular, the MSMEs, the government has decided to put in place a robust institutional mechanism to prevent MSMEs becoming sick and to revive and restructure that fall sick due to various reasons.
Objectives of Telangana Industrial Health Clinic are to cater to the development needs of MSEs with focus on diagnostic and clinical facilities for sick and incipient enterprises in coordination with the existing financial institutions and extending financial support to the new micro and small enterprises.
It also intends to help MSEs in revival and rehabilitation through effective guidance and timely supplementation of financial resources and identify the strategic partnership firms for creating a comfort zone to the banks to revive the MSEs so that the units come out of NPA status. It also aims at the facilitation to MSEs to access equity through SME Exchange, according to an official release issued here on Thursday.
