Temporary working capital

Coronavirus | Govt. urges India Inc to help develop COVID facilities

Citing the example of the temporary COVID care facilities set up by the DRDO in the capital, the general affairs secretary said companies can do the same in tandem with states.

Urging Corporate India to help the government fight the second wave of COVID-19, the government asked them on Thursday to consider setting up temporary COVID care facilities and makeshift hospitals to treat the growing number of cases requiring medical attention.

Businesses may even consider using their vacant offices or buildings for such facilities, as most employees work from home, General Affairs Secretary Rajesh Verma said in a call also stressing that businesses are allowed to spend. their mandatory corporate social responsibility (CSR) funds. on the establishment of makeshift hospitals and temporary COVID care centers.

Citing the example of the COVID temporary care facilities set up by the Defense Research and Development Organization (DRDO) in the capital, Verma said companies can do the same in tandem with states.

“You may want to consider converting vacant office buildings to temporary COVID care facilities with either isolation beds or a combination of isolation beds and oxygen to respond to the rapidly increasing number of patients. COVID cases in many parts of the country, some of which may be in your neighborhood, ”the secretary wrote.

“Your swift and focused efforts will certainly help provide much needed relief to citizens during this difficult time. I am optimistic that with our determination to work together, we will be able to address this unprecedented crisis effectively, ”concluded Mr. Verma in his appeal to industry leaders.

Last March, the ministry said spending CSR funds on COVID-19-related work was allowed under the law that requires all companies with a net worth of 500 crore or more to have a turnover of 1,000. crore or more, or net profit ₹ 5 crore or more, to devote 2% of their average profit of the previous three years to CSR activities annually.

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