Chief Minister Dr. Pramod Sawant chaired the 405th Board Meeting of EDC Limited, reinforcing the government’s commitment to transparency, accountability, and performance in public sector undertakings.
At the meeting, the Board approved the Consolidated Accounts for the Financial Year 2024-25. EDC Limited reported ₹137 crore in revenue and ₹60 crore in expenses, resulting in a Profit Before Tax of ₹77 crore. This strong financial performance underscores the effective governance and strategic financial management employed under the leadership of Dr. Sawant and the Board.
The profitability of EDC Limited is a testament to its significant role in promoting entrepreneurship, industrial development, and financial support in the state of Goa. These results not only reflect sound fiscal discipline but also the broader vision of sustainable and inclusive economic growth envisioned by the government.
Dr. Pramod Sawant continues to lead from the front, ensuring that institutions like EDC Limited contribute meaningfully to the state’s development goals and economic self-reliance.
In a significant development, Chief Minister Dr. Pramod Sawant chaired the 403rd Board Meeting of EDC Limited at EDC Panjim, underscoring the government’s commitment to promoting youth and entrepreneurship in Goa. The meeting was attended by Managing Director Shri BS Pai Angle and the Board of Directors.
During the meeting, the Chief Minister and the Board deliberated on various agenda items, including lease matters, loan matters, and the overall progress of the Corporation. The discussions focused on exploring new avenues for promoting entrepreneurship and self-employment among the youth of Goa.
EDC Limited, a premier financial institution in Goa, has been instrumental in providing financial assistance to various industrial and service sector projects. The Corporation has disbursed over Rs. 3000 crores in financial assistance, contributing significantly to the state’s economic growth and development.
Promoting Youth and Entrepreneurship
The Chief Minister’s leadership in chairing the EDC Limited Board Meeting highlights the government’s emphasis on promoting youth and entrepreneurship in Goa. The state government has launched several initiatives to encourage entrepreneurship and self-employment among the youth, including the Chief Minister’s Rojgar Yojana.
These initiatives aim to provide financial assistance, training, and mentorship to young entrepreneurs, enabling them to establish successful businesses and contribute to Goa’s economic growth.
In a grand ceremony held at Panaji, EDC Limited, a pioneering financial institution in Goa, celebrated its 50th anniversary. The event was attended by Chief Minister Dr. Pramod Sawant, past and present employees, Board members, Chairman, and other stakeholders of the Corporation.
The occasion was marked by a grand cultural programme, which showcased the rich cultural heritage of Goa. The event also featured a commemorative souvenir and a corporate video of EDC, which was unveiled by the Chief Minister. The video captured the company’s journey and achievements over the past five decades.
In his speech, Chief Minister Dr. Pramod Sawant encouraged other government corporations to emulate EDC’s professionalism. He also suggested that EDC should explore new projects, such as one similar to Patto Plaza, and develop it near the Mopa Airport. The Chief Minister highlighted the importance of infrastructure in the state’s economic progress and praised EDC’s role in actively contributing towards the infrastructure and industrial growth of Goa.
Shri Sadanand Shet Tanavade, Member of Parliament (Rajya Sabha) and former Chairman of EDC Ltd, praised the Corporation and commended the Chief Minister for ensuring the corporation’s decisions remained free from political influence, contributing to its success.
Managing Director, Shri B S Pai Angle, highlighted EDC’s growth and role in promoting entrepreneurship in Goa. In his welcome speech, Shri Angle recounted the momentous journey of EDC over the past 50 years, the challenges faced, and the various business opportunities seized by the Corporation.
The event was graced by the presence of past Chairmen of EDC, including Shri Sadanand Shet Tanavade, Shri Krishna Kuttikar, Shri Felix De Lima, Shri Siddharth Kunkolienkar, and Shri Santosh Kenkre. All the past Chairmen of EDC, along with Shri Arvind Mauzo, the first employee of the Corporation, were felicitated on the occasion.
EDC Limited was founded on March 12, 1975, and has since played a vital role in promoting entrepreneurship and industrial growth in Goa. The Corporation has made consistent profits over the last 20 years and has an impressive track record of low Non-Performing Assets (NPA), making it one of the best financial institutions in the country.
The 50th-anniversary celebration of EDC Limited marked a significant milestone in the Corporation’s journey. It was a testament to the hard work and dedication of its employees, past and present, and a reflection of its commitment to promoting entrepreneurship and industrial growth in Goa.
