TSMFC gears up for phase-II of financial assistance for minorities

Hyderabad: The Telangana state is making preparations for the launch of the second phase of its 100% subsidy loan scheme for minorities. The Telangana Minority Finance Corporation has laid out a plan to provide Rs. 1 lakh to each of the 14,300 minority applicants.

Strict orders have been issued to District Collectors and District Minority Welfare Officers to ensure proper implementation of the scheme. The government has allocated Rs. 153 crore for this purpose, as announced by the Chairman of the Minority Finance Corporation, Imtiaz Ishaq.

The successful completion of the first phase of the 100% subsidy scheme for minorities has paved the way for the second phase. In the initial phase, the government released Rs. 100 crore, distributing cheques of Rs. 1 lakh each to 10,000 minority beneficiaries on August 19.

Each of the 119 assembly constituencies in the state received subsidies for 120 minorities, totaling 14,300 beneficiaries across the state. The corporation requires Rs. 153 crore for the second phase distribution of aid.

Imtiaz Ishaq met with Finance Minister T. Harish Rao to request the release of the required funds. The finance minister reacted positively to the proposal and instructed the finance department to expedite the release of the necessary funds to the corporation.

Harish Rao commended the successful implementation of the scheme in the first phase and advised Imtiaz Ishaq to maintain communication with all assembly members. He emphasized that this initiative is benefiting minorities on a large scale for the first time.

Imtiaz Ishaq, the Chairman of the Minority Finance Corporation, revealed that a comprehensive plan is in place for the release of the second phase aid funds in the first week of September. Once the funds are received from the government, the relief money will be swiftly disbursed to the minority beneficiaries, with all necessary preparations already in place.