By ICN GroupChemical, March 31, 2020

Sadanand Gowda asks PSUs contribution for PM-CARES

The minister has also urged employees to contribute at least one day's salary towards PM CARES fund

In view of the urgent need to fight COVID-19 pandemic, Union Minister of Chemicals and Fertilizers DV Sadananda Gowda has urged profit making PSUs under his Ministry to donate part of their CSR funds to PM-CARES. 
In a letter sent to CMDs of all the PSUs, Gowda said, "Government of India is taking all possible steps to prevent spreading of the outbreak, however a public health situation of this scale requires concerted efforts from all sections of the society, therefore I request you all to contribute maximum possible amount of your CSR budget to PM-CARES.
The Government of India has set up PM-CARES fund with the primary objective of dealing with any kind of emergency or distress situation such as that posed by COVID-19 pandemic and the Ministry of Corporate Affairs has already clarified that any contribution made to the said fund shall qualify as CSR expenditure under the Companies Act 2013.
Gowda said that it is a good opportunity for the PSUs to utilize their unspent CSR funds for FY2019-20 by contributing to the above fund immediately. Similarly the companies may also contribute to this fund from April 2020 onwards for FY2020-21.
Central Minister said that he has also requested CMDs of all the PSUs to motivate the employees of their company to voluntarily contribute at least one day of their monthly salary to PM-CARES fund.

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