The Corporate Philanthropy Awards 2023 ceremony, organized by Pakistan Centre for Philanthropy (PCP) on 7th March at Marriott Hotel Karachi was chaired by Mr. Akif Saeed, Chairman Securities and Exchange Commission of Pakistan (SECP). While addressing the event, Mr. Akif Saeed said that the business sector should be encouraged, supported and incentivized to augment its philanthropic investments to supplement Government’s efforts for social and economic progress of the country.
The award event was attended by Mr. Zaffar A. Khan, Chairman PCP Board of Directors, Dr. Attiya Inayatullah, Chairperson PCP Research Committee, Ms. Shazia Maqsood Amjad, Executive Director PCP, representatives of renowned corporate firms and civil society organizations.
Ms. Shazia Maqsood Amjad, Executive Director PCP, launched the Corporate Philanthropy Survey Reports for the years 2022 and 2023. While presenting the findings, she highlighted that the corporate sector gave Rs. 30 billion as philanthropic donations during the years 2020 and 2021. Other headline findings are:
- The philanthropic giving of Public Listed Companies (PLCs), Public Unlisted Companies (PUCs) and Private Limited Companies (PvLCs) is estimated at 13.32 billion in the year 2020; and Rs. 16.76 billion in 2021.
- PLCs’ donations stagnated at 11.35 billion in 2020 and Rs. 11.18 billion in 2021 indicating a marginal decline of 1.5% from the previous year.
- An increase in philanthropic donations was recorded for both PUCs and PvLCs. The PUCs’ donations increased from 1.9 billion in 2020 to Rs. 2.21 billion in 2021. Correspondingly, the PVLCs donated Rs. 1.8 billion and Rs. 3.37 billion during the same years.
The Chairman SECP distributed awards to the selected 36 top ranked companies on two yardsticks i.e., (i) absolute amount of giving; and (ii) donation as a percentage of Profit before Tax (PBT). The awardee companies included Oil & Gas Development Company Limited (OGDCL), Pakistan Petroleum Limited (PPL), Mari Petroleum Company Limited, Fatima Fertilizer Company Limited, Khyber Tobacco Company, Pak Datacom Limited, Mehran Sugar Mills Limited, Matco Foods Limited, First National Bank Modaraba, Reliance Weaving Mills Limited Yunus Textile Mills Limited, Sindh Engro Coal Mining Company Limited, Y. B. Pakistan Limited, Novatex Limited, Asian Food Industries Limited, Resham Textile Industries Limited, MRA Securities Limited, Albaraka Bank (Pakistan) Limited, Barrett Hodgson Pakistan (Pvt.) Limited, Qarshi Industries (Pvt.) Limited, U.S. Denim Mills (Pvt.) Limited, Ahmed Foods (Pvt.) Limited, Kassim Textiles (Pvt.) Limited, UTI Industries (Pvt.) Limited, Cassim Investments (Pvt.) Limited, Aba Ali Habib Securities Limited, Altaf Adam Securities (Pvt.) Limited, and Cargill Pakistan Agri Foods (Pvt.) Limited.
In view of the recent flood disaster and its adverse effects on millions of people, a panel discussion was also held to review and unpack the role of NPOs and Corporate sector in times of disaster, and how philanthropy can be a mean to mitigate the adversities of crisis. Dr. Amjad Saqib, Founder and Executive Director Akhuwat, was the key note speaker along with other esteemed panelists from the corporate and nonprofit organizations including Mr. Javed Jabbar, Chairman SPO and Founding President Baanhn Beli, Mr. Esfandyar Baloch, CEO PPHI Baluchistan, Mr. Mushtaq Kassim Chhapra, Chairman The Citizens Foundation, and Mr. Muhammad Aurangzeb, President and CEO Habib Bank Limited.
In the end, Mr. Zaffar A. Khan, Chairman PCP Board of Directors, said that corporate philanthropy has a great potential to supplement efforts of the Government and civil society for the socio-economic development of the country.
PCP annually conducts corporate philanthropy survey to highlight the good practices of giving by the business community and these reports are the 17th and 18th in the series to document and recognize valuable contributions of corporate sector towards various social causes.
