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Sparing officials involved in SFCS scam, JKEDI puts old wine in new bottle 5/2/2018 11:15:10 PM Early Times Report Jammu, May 2: The J&K Entrepreneurship Development Institute (JKEDI) has launched Youth Start-Up Loan scheme under Sher-e-Kashmir Employment Welfare Programme for Youth (SKEWPY), but without addressing the serious issues it is not more than putting old wine in a new bottle. It seems that state government has failed to take any lesson from embezzlement of funds and scam committed in the SKEWPY scam by the officials of JKEDI. One such component under the SKEWPY scheme was Seed Fund Capital Scheme (SFCS), according to which out of total 1410 units established under SFCS, a total of 305 were found non-existent. SFCS was launched as part of the government's initiative to provide employment opportunities to the youth of the state under SKEWPY on December 5, 2009. The scheme was implemented by JKEDI. The scheme was launched by the Omar Abdullah-led coalition government. Omar had initiated enquiry over the allegations of the embezzlement of funds. The enquiry report submitted by Department of Employment had found that 305 units out of total 1410 were non-existent, but Omar refused to take any action against the officials of JKEDI who were involved in embezzlement of funds. Moreover, the enquiry report submitted by Department of Employment had also made some startling revelations, cornering the claims of JKEDI. The JKEDI had claimed that it had provided employment to 11948 persons. But during physical verification, the enquiry report had found that 3286 persons were provided employment, which was also to be probed but the enquiry report was kept under carpet. The report had also pointed out the urban centric approach of JKEDI as 49.07 percent cases were disbursed in twin capital districts of state. "JKEDI does not seem to have an established mechanism to conduct pre-sanction survey as it has been observed that already-established units/ family-owned traditional business/ activities, especially in the handicrafts and handloom sector have been covered under the scheme. The beneficiaries in such cases have utilized the funds only to extend their existing business units. This trend has defeated the spirit of the scheme of providing financial assistance to the first generation entrepreneurs in the core sectors of economy," the report had added. The JKEDI on Wednesday, announced widely the Youth Start-Up Scheme according to which an enterprising educated youth can avail the facility of loan upto Rs. 20 lakh at the rate of 6 % simple interest. The funding patter for 10+2 qualified youth is Rs. 12 lakh, Rs. 15 lakh for graduates, Rs. 18 lakh for post graduates and Rs. 20 lakh for professional and teaching graduates. In security part, a third party guarantee of government employee with atleast 6 years of service is must along with some other formalities.   Share This News with Your Friends on Social Network     Comment on this Story

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