Himachal Pradesh Ex-servicemen Corporation (HPESCO) was established in the year 1979 by Himachal Pradesh Government Act passed by the state Legislative Assembly. The Corporation started its working in the year 1981 only to provide margin money loan and interest subsidy to the Ex-servicemen in various self employment schemes. In the year 1984, the Corporation entered into an agreement with A.C.C. Ltd. for carriage of their product to various destinations in northern India. Now the activities of the Corporation have incresed manifold.