Rs 23.65 billion donated in 2023
Pakistan Centre for Philanthropy (PCP)’s latest corporate philanthropy report reveals that business companies in Pakistan collectively donated PKR 23.65 billion for various social causes in 2023.
This is a notable increase from PKR 16.76 billion in 2022. In recognition of the generous contribution of the business sector, PCP organized the Corporate Philanthropy Awards 2024 on November 19th in Islamabad.
The event was chaired by Mr. Ali Pervaiz Malik, Minister of State for Finance, Revenue, and Power. During his address, he acknowledged and encouraged the increasing importance of corporate philanthropy in supporting the government’s efforts for social and economic development, particularly in times of crisis.
The distinguished guests of the award ceremony included Mr. Zaffar A. Khan (S.I.), Chairman PCP Board of Directors, Dr. AttiyaInayatullah, Chairperson PCP Research Committee, Ms. ShaziaMaqsoodAmjad, Executive Director of PCP, and representatives from leading corporate firms and civil society organizations. PCP’s Executive Director shared the salient features of the report highlighting that Public Listed Companies (PLCs) contributed the largest share, amounting to PKR 17.69 billion, while Public Unlisted Companies (PUCs) and Private Limited Companies (PvLCs) also significantly contributed PKR 2.60 billion and PKR 3.36 billion respectively.
She further highlighted that the corporate sector’s philanthropic support escalated significantly during the 2022 floods, with Bank Alfalah Limited, Mari Petroleum Company Limited, and United Bank Limited standing out as lead contributors donating PKR 2,180 million, PKR 500 million, and PKR 468 million, respectively.
The Minister of State for Finance, Revenue, and Power presented awards to the 18 companies, ranked the highest as per the volume of donation and the percentage of donations relative to Profit Before Tax (PBT).
