ITC Sets Up Rs 150 Crores COVID-19 Contingency Fund for Vulnerable Sections, Says 'Move is a Meaningful Support to Contain This Pandemic'

Mumbai, March 27: With the total toll of positive cases in India rising to 661 and death reports due to COVID-19 crossing 18, ITC limited on Friday set up Rs 150 crores COVID-19 Contingency Fund for vulnerable sections of society. ITC Limited Chairman Sanjiv Puri informed that this move is a meaningful support to contain this pandemic. Informing about the latest update, ITC chairman said that the contingency fund is in line with ITC’s credo of ‘Nation First – Sab Saath Badhein’.

In his statement, Puri said, "Over the past few weeks several initiatives have been implemented in response to the crisis. We are now happy to announce that ITC is setting up a Contingency Fund of Rs 150 crore to address and manage the challenges arising out of this adversity. This fund will be utilised primarily to provide relief to the vulnerable and most needy sections of society who have been harshly impacted by the pandemic and have faced significant disruption in their livelihoods. In addition, the fund will collaborate with District Authorities to provide assistance to the district health and rural healthcare eco-system that reaches out to the weakest sections of society." Bank Loan EMIs: RBI Recommends 3-Month Moratorium And Interest Deferment on All Loans Amid COVID-19 Crisis.

Adding more, the ITC Chairman said, "Further, it is also envisaged that the resources under this fund will be channelised towards the protection and well-being of the ground forces who are doing commendable work to reach medicines, groceries, other essential goods, sourcing of agri-commodities and so on for people across the country during the lockdown, by providing protective personal gear and hygiene products to such frontline warriors."

Puri was of the opinion that it is critical to ensure adequate availability of essential food and hygiene products in the country and industries should would with state authorities and local administration to ensure that manufacturing and distribution activities continue uninterrupted with bare minimum people. The ITC chariman vowed to support the Union government's efforts and play its part in fighting this pandemic with compassion and resilience.

(The above story first appeared on LatestLY on Mar 27, 2020 03:57 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).