Excelsior Correspondent
LEH, Nov 7: Sindhu Infrastructure Development Corporation (SIDCO), a public sector enterprise under the Administration of Ladakh UT here today organized a loan distribution ceremony.
The event was inaugurated by Lieutenant Governor of Ladakh, Kavinder Gupta, who graced the occasion as chief guest and distributed sanction letters to the beneficiaries.
The programme commenced with a welcome address by Bhupesh Chaudhary, Managing Director, SIDCO, who outlined SIDCO’s vision and journey since its establishment in 2021 under J&K Reorganisation Act.
He informed that SIDCO has already sanctioned financial assistance to 137 beneficiaries-89 from Leh and 48 from Kargil districts-under its self-employment and entrepreneurship promotion schemes, with a total project outlay of Rs. 16.17 crore.
Earlier, ten beneficiaries-five each from Leh and Kargil-were also supported under the initiative.
In his inaugural address, LG Kavinder Gupta lauded SIDCO’s proactive steps in fostering entrepreneurship and local job creation.
He emphasized that such micro-loan initiatives empower the people of Ladakh-particularly the youth and women-to become job creators rather than job seekers.
Gupta distributed loan sanction letters ranging between Rs. 10 lakh and Rs. 20 lakh to the beneficiaries supporting a wide range of livelihood projects including knitting and tailoring units, cleaning services, fish farming, wood carving workshops, cafés, mushroom cultivation, laboratory testing facilities and CCTV businesses.
The ceremony was attended by Romil Singh Dong, Deputy Commissioner, Leh; Sonam Norbo, Additional Deputy Commissioner, Leh and other senior officers from SIDCO and Administration.
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