PHDCCI & BSE come together to galvanize resources for Freedom-74

New Delhi: The intense scarcity of medical oxygen cylinders remains a stark ground reality that has hampered the functioning of hospitals and healthcare facilities across India during the second wave of Covid-19 pandemic. In this regard, PHD Chamber of Commerce and Industry (PHDCCI) and the BSE –rated as one of the fastest exchanges in the world, and the financial fraternity have come forward to generate and amplify resources for setting up of an oxygen plant which will be placed at New-Delhi-based Tirath Ram Shah Charitable Hospital (TRSCH) – a 200-bedded hospital inaugurated in 1955 by the first president of India, Dr. Rajendra Prasad. The noble initiative is suitably titled–Mission Oxygen–TRSCH Achieves Freedom-74.

The Memorandum of Understanding (MoU) between the PHDCCI and the TRSCH hospital provides for support of oxygen only to patients in general ward and those who cannot afford healthcare on a no-cost basis.

While grappling with the second wave of Covid-19, there was a substantial demand from TRSCH for medical oxygen, Mr Vijay Bhushan, Chair, Capital and Commodity Market Committee at PHDCCI made an appeal to BSE, corporates and individuals to raise funds for the initiative with PHDCCI as the main facilitator.

I congratulate Mr Vijay Bhushan and BSE for coming together for such a Noble cause of setting up an Oxygen plant at TRSCH, which will ensure continuous free supply of oxygen in the hospital and help save many lives in these crucial times of the pandemic, said Mr Sanjay Aggarwal, President, PHDCCI.

PHDCCI has stood by the Nation in these trying times and undertaken the noble task of importing 10 Oxygen plants, which shall be implanted, as donations, in various Hospitals and nursing homes across India, added Mr Aggarwal.

Elaborating on the initiative, Mr. Vijay Bhushan, Chair, Capital and Commodity Market Committee, PHDCCI, said,”Freedom-74 signifies the aggregate contribution of Rs 74 lakh collected for Mission Oxygen–TRSCH for setting up of an oxygen plant. But more than this, we attained freedom in 1947 and 74 years later in 2021, TRSCH will achieve freedom from dependence on outside oxygen and will become Aatmanirbhar.”

Similarly, Mr. Ashishkumar Chauhan, Managing Director and CEO, BSE, said, “BSE is happy to be a part of this noble initiative. PHD has been a key facilitator who has taken up the initiative. We all are well aware of the serious situation that has prevailed due to extreme shortage of medical oxygen in the hospitals across the country. It gives us immense satisfaction to have been able to galvanise resources. BSE appeals to all its members to contribute to such causes so that we can provide help when necessary to our communities”

BSE , Globe Capital Market Ltd, including other corporates and individuals have come forward for the common cause.

Essentially, there are three types of hospitals operating in India: private, government and trust-run. While the running of private hospitals is funded by the respective private entity promoting them, the government-run hospitals are suitably supported by the government, as the name suggests. In the recent pandemic in Delhi, while the government has taken over private hospitals by bringing them into the fold, it has failed to satisfactorily address the concerns of the trust-run hospitals. In this regard, PHDCCI has come forward to set-up a test/model to provide support to trust-run hospitals. If this model is successful, PHDCCI plans to scale up this initiative further.