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MSTC donates 5.54 crore to PM Cares Fund

By The Economic Times On 07 April 2020
MSTC donates 5.54 crore to PM Cares Fund

Auction platform provider MSTC Limited has announced contribution of Rs 54 lacs from its corporate social responsibility (CSR) fund and donation of Rs 5 crore to the PM Cares fund to support India’s COVID-19 response.


In Addition, all employees of MSTC have pledged to donate their one day’s salary to the Prime Minister’s Cares Fund. In order to provide support to its potential bidders the company has also decided to postpone some of the scheduled auctions after June 14.


“MSTC salutes the entire medical and support fraternity including doctors, nurses and healthcare workers who are selflessly providing care to all to all affected patients in India,” it said in a statement.


“MSTC is committed to fight the COVID-19 pandemic and has instituted work from home for all the team members who are able to work remotely at all its locations. The company is continuing its auction services without breakage of necessary E-commerce services provided by the company,” it said in the statement.


MSTC is a Mini Ratna Category – I PSU under the administrative control of the ministry of Steel. Government of India has 64.75% shareholding of the company. The company’s main lines of business involve E-Commerce services, trading and recycling of the scraps products.

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Tag : CSR COVID19 Disaster Relief PMCares

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