VIJAYAWADA: The State government has accorded permission for the setting up of Andhra Pradesh Ex-Servicemen Corporation Limited (APEXCO) with an initial corpus of Rs 10 crore. An order to this effect was issued on Monday.
As per the order, as and when required, further amount will be given to APEXCO. The modalities of its constitution and functioning will be issued separately. The Director, Sainik Welfare, Andhra Pradesh, has been entrusted with the task of its implementation.
In July, the Director, Sainik Welfare, AP, submitted a detailed proposal to the newly elected government for the establishment of APEXCO for the welfare of ex-servicemen.
The Department of Sainik Welfare works under the administrative control of the Home Department and the Ministry of Defence.
The main function of the Sainik Welfare Department is to ensure the resettlement and welfare of ex-servicemen, war-disabled soldiers, war widows, widows of ex-servicemen and their dependents.
The aim and objectives of the Department of Sainik Welfare are achieved through two main instruments - Resettlement through Employment and Welfare Schemes, he explained.
He said the establishment of APEXCO has been a long-standing demand of the ex-servicemen (ESM) in the State. It was one of the agenda points at the Defence Minister’s Meeting held in Delhi on April 11, 2023 wherein it was decided that all States should consider setting up of ESM Corporations which can provide self-sustaining avenues for ESM resettlement and rehabilitation.