Business

Petronet LNG, Bharti among firms to commit ₹100 cr. each to combat COVID-19

Petronet LNG, Bharti Enterprises and Hero Group have committed ₹100 crore each to support efforts to combat the COVID-19 in the country.

While Petronet LNG said that the entire sum of ₹100 crore will be contributed to the newly-created PM-CARES Fund, Bharti Enterprises and Hero Group will be putting a part of contribution in the fund and part of it will be spent on other relief efforts.

“Bharti Enterprises and its companies Bharti Airtel, Bharti Infratel and others are contributing a sum of over ₹100 crore for India’s fight against COVID-19… A significant portion of the corpus will be immediately contributed to the PM-CARES Fund,” the company said in a statement. It added that the balance amount will be directed towards sourcing masks, PPE and other key equipment for the doctors, healthcare workers and essential services personnel.

Over a million N-95 masks are being procured and will be made available on an immediate basis, it said. In addition, the employees of Bharti Enterprises will also make personal voluntary contributions towards this cause through a platform set up by the company. The group companies will match the amount contributed by their employees, and the same will be contributed towards the COVID-19 initiatives.

Similarly, the Hero Group said that of the total amount pledged for the ongoing COVID-19 relief-efforts in India, half (₹50 crore) will be contributed to the PM-CARES Fund and the balance ₹50 crore will be spent on other relief efforts.

The Hero Group (BML Munjal family) companies contributing to this fund include Hero MotoCorp, Hero FinCorp, Hero Future Energies, Rockman Industries and Hero Electronix. Hero Enterprise and AG Industries have also contributed to this fund, the company said.

Besides, the BML Munjal University has offered its 2000-bed hostel for use as an isolation and treatment ward by the local health department. Other group firms are also distributing masks, sanitizers, gloves, and food.

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Printable version | Jun 2, 2020 7:17:22 AM | https://www.thehindu.com/business/petronet-lng-bharti-among-firms-to-commit-100-cr-each-to-combat-covid-19/article31220147.ece

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