New world belongs to entrepreneurs, says Nagaland legislator Khamo

INR 6.4 crore loss over non repayment by 197 beneficiaries of PMEGP scheme

CHETHEBA — Nagaland Advisor for Civil Administration Works Division (CAWD) and Taxes, Kudecho Khamo, on Saturday said the new world belongs to entrepreneurs and business people, citing paradigm shift in economic landscape.

He was addressing the orientation and briefing programme of aspiring applicants for the Prime Minister’s Employment Generation Programme (PMEGP) scheme at Town Hall in Chetheba Town. It was organised by District Industries Centre (DIC), Chozuba, and Nagaland Khadi and Village Industries Board (NKVIB), Chozuba.

Reminding that the Naga ancestors were hard working and threw feast of merit to the public, he said the time for depending on government job has also passed and the current situation demands rethinking, to be job creators and employers.

The advisor told the gathering to avail bank loans to start new enterprises but ensure repayment to gain the confidence of financial institutions.

He said that the PMEGP scheme and Chief Minister’s Micro Finance Initiative (CMMFI), which was launched by Nagaland CM Neiphiu Rio to boost entrepreneurship in the state, can come handy for youth aspiring to take up business.

For business to flourish, he said, people should not to be money-centric or divert funds for personal use but invest in their projects.

Lamenting lack of professionalism and commitment among the Naga traders, be it at work places or life in general, Khamo stressed the need to change the mentality with all seriousness. He also highlighted prospects in production sectors including meat, fruit and processed food, which is currently dominated by firms from outside the state.

Speaking from his experience, he said business is not all about money and that it is important to build trust first and pursue with all seriousness, irrespective of big or small business. He also stressed the need to inculcate critical thinking to strategies and that Phek should start anew to improve livelihood through hard work.

Also speaking at the event, Cholzo Sophie, General Manager of DIC, Chozuba, urged the aspirants of PMEGP scheme to make repayment a priority as it is not free money but credit link. He also suggested them to undergo Entrepreneurship Skill Development Programme (ESDP) and take up the sectors that are least ventured, including traditional and unique projects that are viable in the district, so that their business may thrive.

While sharing the banking modalities and the process involved in applying for a loan,

Shemrihor, Branch Manager of State Bank of India, Chozuba, informed that a total of 292 people from the state have benefitted from the PMEGP scheme over the last five years, amounting to INR 9. 1 crore, but the loss incurred over non repayment by 197 beneficiaries stands at INR 6.4 crore.

In this regard, he told the applicants to have a proper planning for the success of their projects. He also made it clear that the bank will not allow diversion of fund.

Lukheto Shohe, Executive Officer of NKVIB, Chozuba, also spoke on the objective of the training programme, while Kezhaletuo Khruomo, Inspector of Industries, delivered the welcome address.

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