Indian Potash Ltd donates Rs 5 cr to PM-CARES Fund

State-owned Indian Potash Ltd on Friday donated Rs 5 crore to the PM-CARES Fund, taking the total contribution by fertiliser PSUs to Rs 32 crore so far.

Employees of two PSUs -- National Fertilizer Ltd (NFL) and Fertilisers and Chemicals Travancore Ltd -- have donated their one day's salary amounting to Rs 88 lakh and Rs 50 lakh, respectively, for the PM-CARES Fund, an official statement said.

Fertiliser and Chemicals Minister D V Sadananda Gowda lauded the efforts of the PSUs saying this will strengthen and support the relief works being carried out by the central government in the wake of COVOID-19 outbreak.

Other fertilizer companies especially Indian Farmers Fertiliser Cooperative Ltd (IFFCO), Krishak Bharati Cooperative Ltd (KRIBHCO) and NFL-KISAN have also contributed more than Rs 27 crore to the PM-CARES Fund.

The Centre has set up the Prime Minister's Citizen Assistance and Relief in Emergency Situations (PM-CARES) Fund with the primary objective of dealing with any kind of emergency or distress situation such as the one posed by COVID-19 pandemic and the contribution made to the said fund shall qualify as CSR (Corporate Social Responsibility) expenditure under the Companies Act 2013.