Nation Current Affairs 10 Oct 2017 Telangana: Companies ...

Telangana: Companies fail to uphold promises made under CSR

DECCAN CHRONICLE. | A RAVINDRA SESHU
Published Oct 10, 2017, 5:43 am IST
Updated Oct 10, 2017, 5:43 am IST
Some of these companies are allocating funds on record for CSR, but are not releasing money (Photo: Representational image)
 Some of these companies are allocating funds on record for CSR, but are not releasing money (Photo: Representational image)

Khammam: Companies that releasing pollutants in the air are either going slow or are shirking their responsibility to provide funds mandated under corporate social responsibility norms.

Some of these companies are allocating funds on record for CSR, but are not releasing money. These companies are in violation of the assurances given in the grama sabhas before commencement of the projects.

They have to explain at the grama sabhas how they will release and spend the funds under CSR. The CSR work should commence along with the project construction. Even state-run institutions are not an exception.

The Kothagudem Thermal Power Station commenced the construction of its 15,300-crore seventh phase to produce 800 MW power 1.5 years back. It earmarked Rs 282 crore to be spent for CSR projects over 15 years.

TS Genco has planned to complete the project by December. It KTPS has to spend Rs 22.5 crore for the development of basic infrastructure in affected habitations under CSR.

It has, however, released only Rs 2.82 crore, which is 11 per cent of the promised money. This negligence has affected the health of people in nearby villages; the CSR money should be used to conduct health camps at regular intervals in the affected villages.

The past record of KTPS in spending CSR funds does not inspire funds. The Rs 3-crore CSR funds for the fifth and sixth stages due in 2010 was released five years later in 2015. 

Mr P. Ramesh, a social activist, said that an autonomous body should be set up to oversee the release and spending of CSR funds.

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Location: India, Telangana




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