Functions & Governance

As per Punjab Backward Classes Land Development and Finance Corporation Act, 1976, the primary objective of the Corporation is to undertake the task of economic uplift of the members of the Backward Classes and Minority communities in the Punjab State. To achieve these objectives, the Corporation does the following functions:-.

• To plan, promote and undertake on its own or in collaboration with or through such Backward Classes and Minorities organisations or other agencies as may be approved by the Board, Programmes of agricultural development, marketing , processing, supply and storage of agricultural  produce, small-scale industry, building construction , transport and such other business, trade or activity as may be approved in this behalf by the State Government.
• To provide financial assistance to members of Backward Classes and Minorities or to Backward Classes and Minorities organisations by advancing to them in cash or in kind , loans including loans under hire-purchase system for any of the purposes specified in clause (1) either directly or through such agency , organisation or institution as may be approved by the Board.
• To give on hire  , agricultural or industrial machinery or equipment to the members of Backward Classes, or to Backward Classes organisations.
• To give grants and subsidies to, and to guarantee loans  taken by the members of Backward Classes organisations.
• To borrow money subject  to such conditions as the Board may specify.
• To invest or deposit surplus funds of the Corporation in Government securities or in such other manner as the board may decide.
• To enter into contracts, and
• To discharge such  other functions as may be prescribed or as are supplemental, incidental or consequential to any of the functions conferred on it under the Backfinco Act.