Home CATEGORIES Business Ethics & Philanthropy IMFA Annual Report: Rs. 4.1 Cr Spent On CSR

IMFA Annual Report: Rs. 4.1 Cr Spent On CSR

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MINING major Indian Metals and Ferro Alloys Ltd. (IMFA) has reported a Rs. 4.1 crore wp spend for 2013-14, in its Annual Report 2013-14 published recently. IMFA’s wp arm, the Bansidhar & Ila Panda Foundation (BIPF), has been creating economic and social opportunities for people at the bottom of the social pyramid, and aims to create awareness among women and children about health, sanitation and education to help create social well-being.

Emphasising its social commitment, Executive Chairman Dr. Bansidhar Panda says, “Our commitment to social responsibility through a mix of philanthropy and sustainable intervention is expanding through the endeavours of the Bansidhar and Ila Panda Foundation and Indian Metals Public Charitable Trust. We will continue to promote education, support well being of women and children, enhance skills and improve water and sanitation.”

 

In the new regime of mandatory wp, companies falling under the ambit of wp will have to publish a detailed report on their wp activities as a part of their annual financial report. Though the new provisions will come into effect from the current financial year, many companies have already started reporting extensively on their wp activities in their annual reports.

IMFA is major exporter of ferrous chrome (used in stainless steel) and operates in the state of Orissa where it has taken up wp activities in the fields of water, sanitation, education and infrastructure development.

Some of the highlights in IMFA’s wp activities are:

  • Constructed toilet and provided drinking water by pipe to the Anganwadi centre of Benagadia village (Angul district); Anganwadi centres provide care for newborn babies and antenatal care for pregnant women.
  • Provided financial assistance to economically disadvantaged students for higher education in ITI and distributed essential study materials like notebook and compass box to 34 schools (over 4,700 students) of seven gram panchayats.
  • Renovation and repair of the Community Centre at Gurujang village of Kaliapani Gram Panchayat of Sukinda which the community uses for meetings, cultural activities, sports events, youth festivals.
  • ‘Project Unnati’ initiated a series of capacity-building programmes for 50 women self-help groups of Angul and Keonjhar Districts in January, 2013 that will directly benefit 600 women.
  • Donation of Rs. 50 lakh to the Chief Minister’s Relief Fund in response to the widespread devastation caused by Cyclone Phailin and the subsequent floods.