$5 million has been allocated by the Finance Ministry, the National Planning and the Sugar Industry, for an Enterprise Management Unit under the Northern Development Program, which is expected to be established in the north by the end of the month.

Under this program, individuals or enterprises will be provided financial assistance ranging from 25-75% of the total project costs.

Recommendations were made to cabinet by the Interim Finance Minister Mahendra Chaudhry to establish this unit which is expected to raise the level of investment and economic production and also generate increased employment opportunities for the northern division.

The Finance Ministry, National Planning and the Sugar Industry has been vigilant with the Enterprise Management Unit's establishment to ensure the effective implementation of the program.

In a statement, the Interim Finance Minister firmly believes that the Northern Development Program will not only increase the participation of the people of the northern division in economic development but will augment the livelihood of the northern residents.

The development program has a short term goal to focus on supporting production, training and best utilization of the existing market mechanisms, improving them where necessary.