This refers to the report “Premji Foundation to set up schools” (December 9). It is heartening that The Azim Premji Foundation will work to improve elementary education at the grass-roots level across the country. His plans to set up at least one school in every district to provide quality education at a reasonable price should be a boon to the nation. What a way to give back to the society! By transferring 213 million equity shares from his holding in the company to the trust that will act as the financing body, Premji has become the largest-ever individual philanthropic contributor in India. It is hoped that the student community will take full advantage of this service. One hopes that he utilises the best teaching staff to offer quality education, for teachers hold the key to imparting good knowledge.
Given the new government norms that make it mandatory for listed companies to offer at least 25 per cent shares to the public, Premji could have very well sold his shares in the open market and pocketed the cash. But he chose to give it to the foundation to fund educational activities. His statement “good education is crucial to building a just, equitable, humane and sustainable society” will certainly find an echo across the length and breadth of the country.
Not all rich people are willing to donate. It requires a noble desire and generous will to donate money for society’s welfare. India’s millionaires and billionaires would do well to emulate Premji’s action.
Prem K Menon, Mumbai
