Minister says business sector contributed Rs25.44bn to social causes in 2023

ISLAMABAD: Minister for Finance Muhammad Aurangzeb said that there were 400 publicly listed companies, out of which 300 were participating in Corporate Social Responsibility (CSR), but only one-third disclosed their contribution.

He asked the corporate sector to disclose its contribution to bring transparency to its work.

The Pakistan Centre for Philanthropy (PCP)’s latest Corporate Philanthropy Report reveals that the business sector contributed Rs25.44 billion for various social causes in the year 2023. The PCP hosted the Corporate Philanthropy Awards 2025 here on Wednesday.

The Minister for Finance said that Karachi would rank among the top globally if international city-wise comparisons of philanthropy were conducted. He appreciated that while other regions of the country are increasingly contributing, Karachi’s leadership remains noteworthy and exemplary.

While sharing the report’s highlights, PCP’s Executive Director expressed that Public Listed Companies (PLCs) had the largest share of donations amounting to Rs18.23 billion; Public Unlisted Companies (PUCs) contributed Rs3.28 billion and Private Limited Companies (PvLCs) donated Rs3.93 billion in the year 2023.

She further shared that KSE-100 companies donated Rs15.24 billion, while KSE-30 companies contributed Rs8.80 billion, setting a benchmark for charitable giving and aligning with national development goals. Among these companies, the group of Glass and Ceramics contributed the highest share of 7.80 percent of their total profits.

Awards were presented to 18 leading companies recognised for their volume of donations. The companies who received the awards included Oil & Gas Development Company, Mari Energies Ltd, Bank Alfalah Ltd, Yunus Textile Mills Ltd, Novatex Ltd, Fast Cables Ltd, Barrett Hodgson Pakistan (Pvt) Ltd, US Denim Mills (Pvt) Ltd, KSB Pumps Ltd, Unity Foods Ltd, The Searle Company Ltd, Y B Pakistan Ltd, Ghani Ceramics Ltd, among others.

Aurangzeb remarked that Pakistan is regarded globally as a remarkably giving nation, with the World Giving Index placing it 17th among 101 countries which is an acknowledgment of the country’s deeply ingrained culture of generosity, especially in the health and education sectors.