A meeting of board of directors of Andhra Pradesh Minority Finance Corporation was held in Hyderabad in which a resolution was passed in favour of bifurcation of corporation along with the bifurcation of the state. Chairman Mohammed Hidayat presided over the meeting. Commissioner Minority Welfare Shaikh Mohammed Iqbal, Managing Director Minority Finance Corporation, Prof. S A Shukoor, directors and other officials attended the meeting.
The division of budget, workers and assets of the corporation was also reviewed along with the division of corporation. It was also decided to continue the welfare schemes after the conclusion of election code of conduct.
58 percent of the budget earmarked for corporation will allotted to Andhra Pradesh while 42 pc will be allocated for Telangana. The budget has been distributed according to the minority population.
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