Following instructions from the Petroleum Ministry, oil and gas PSUs
will pay at least Rs 200 crore for the Statue of Unity, the
182-metre-tall statue of Sardar Vallabhbhai Patel which is being
installed at the Sadhu Bet island, 3.5 km south of the Sardar Sarovar
Dam at Kevadia in Narmada district of Gujarat. While Oil & Natural
Gas Corp (ONGC) and Indian Oil Corp (IOC) will contribute Rs 50 crore
each out of Corporate Social Responsibility (CSR) funds, other
profit-making public sector undertakings (PSUs) have been told to pay Rs
25 crore each.
“It was conveyed at a CSR review meeting. No written order was issued,” the official said. Oil India Ltd, GAIL India Ltd, Bharat Petroleum and Hindustan Petroleum have approved Rs 25 crore each for the project, taking the collective contribution so far to Rs 200 crore. This would take care of nearly a fifth of the planned expenditure of Rs 1,040 crore for the Statue of Unity in financial year 2017-18. When asked about these directions, Secretary, Ministry of Petroleum, K D Tripathi, declined to comment.
ONGC said the project’s admissibility for CSR funds under Schedule VII of the Companies Act was “well covered” under promoting education, health and hygiene especially for tribal populace among others…ensuring environmental sustainability and protection of national heritage, art and culture. The agenda note also cites Petroleum Minister Dharmendra Pradhan’s suggestion that ONGC can “reposition its CSR funds to meet Department of Public Enterprises’ directives to spend 33 per cent of CSR budget on Swachh Bharat activities”.
Source:-Indianexpress
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“It was conveyed at a CSR review meeting. No written order was issued,” the official said. Oil India Ltd, GAIL India Ltd, Bharat Petroleum and Hindustan Petroleum have approved Rs 25 crore each for the project, taking the collective contribution so far to Rs 200 crore. This would take care of nearly a fifth of the planned expenditure of Rs 1,040 crore for the Statue of Unity in financial year 2017-18. When asked about these directions, Secretary, Ministry of Petroleum, K D Tripathi, declined to comment.
ONGC said the project’s admissibility for CSR funds under Schedule VII of the Companies Act was “well covered” under promoting education, health and hygiene especially for tribal populace among others…ensuring environmental sustainability and protection of national heritage, art and culture. The agenda note also cites Petroleum Minister Dharmendra Pradhan’s suggestion that ONGC can “reposition its CSR funds to meet Department of Public Enterprises’ directives to spend 33 per cent of CSR budget on Swachh Bharat activities”.
Source:-Indianexpress
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