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REC contributes Rs 150 cr to PM CARES fund

State-run Rurual electrification corporation (REC) on Tuesday pledged Rs 150 crore under PM CARES fund to fight against COVID-19. “REC Limited… has pledged to donate Rs 150 crore to the Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM CARES) Fund to support India’s fight against coronavirus”, a PFC statement said.

Besides, the one-time contribution to the newly-formed emergency fund, REC’s employees will voluntarily contribute one day’s salary to the Prime Minister’s National Relief Fund (PMNRF).

REC is committed to participating in corporate India’s response to COVID-19 through funds, community welfare plans and through leveraging its expertise to offer assistance, the company said.

On Monday, Power Minister R K Singh had tweeted, “We feel honoured to share that the public sector undertakings of the ministries of power and MNRE have decided to contribute Rs 925 crore to the PM CARES fund with Rs 445 crore being deposited on 31st of March and remaining in the first week of April.”

REC is a financier of the power-sector projects under the administrative control of Ministry of Power.

Source
ET Energy World
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