The HP Ex-Servicemen Corporation has established in the year 1979 by the Himachal Pradesh Government vide H.P. Ex-Servicemen Corporation Act,1979 (As Amended vide Amendment and Validation Act,1984).The Corporation started its working in the year 1981. The main aim of the Corporation is to provide the welfare and economic upliftment of the Ex-servicemen of the State. The Corporation is providing loan for self employment schemes through the Nationalized banks. The loanee has to arrange 75% loan through the banks and 10% provided by the Corporation as Margin Money loan @ 7% interest up to the maximum limit of Rs. 1,00,000/-. The remaining 15% amount is to be spent by the loanee himself. The Corporation is also providing 2.5% Interest Subsidy on the bank loan.
The Corporation has entered into an agreement with the ACC, Ltd. Barmana to lift 40% Cement of their total product to different destinations in Northern India. The Corporation has been allotted 10% quota for lifting of Clinker/Cement from Ambuja Cement Ltd. Darlaghat. The Corporation has also been allotted 5% quota for lifting of Clinker/Cement from J.P.Cement Plant Baga, Dsitt. Solan.
To rehabilitate the unemployed Ex-servicemen of the State, the Corporation has started a Security Agency as per the guidelines of the DGR. In the year 1996, the HP Government has authorized this Corporation to deploy Ex-servicemen for Security duties and has been declared as Nodal Agency to sponsor the names of Ex-servicemen in the various Departments, Boards, Institutions, State/Centre Govt. PSU,s etc.