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We develop a method for implementing a proposal on utilizing knowledge of neutron star (NS) equation of state (EoS) for inferring the Hubble constant from a population of binary neutron star (BNS) mergers. This method is useful in exploiting BNSs as standard sirens when their redshifts are not available. Gravitational wave (GW) signals from compact object binaries provide a direct measurement of their luminosity distances, but not their redshifts. Unlike in the past, here we employ a realistic EoS parametrization in a Bayesian framework to simultaneously measure the Hubble constant and refine the constraints on the EoS parameters. The uncertainty in the redshift depends on the uncertainties in the EoS and the mass parameters estimated from GW data. Combining the inferred BNS redshifts with the corresponding luminosity distances, one constructs a redshift-distance relation and deduces the Hubble constant from it. Here, we show that in the Cosmic Explorer era, one can measure the Hubble constant to a precision of $\lesssim 5\%$ (with a $90\%$ credible interval) with a realistic distribution of a thousand BNSs, while allowing for uncertainties in their EoS parameters. Such a measurement can potentially resolve the current tension in the measurements of the Hubble constant from the early- and late-time universe. The methodology implemented in this work demonstrates a comprehensive prescription for inferring the NS EoS and the Hubble constant by simultaneously combining GW observations from merging NSs, while employing a simple population model for NS masses and keeping the merger rate of NSs constant in redshift. This method can be immediately extended to incorporate merger rate, population properties, and additional cosmological parameters.