Philanthropy up 33-fold since 2002

KARACHI: Philanthropic contribution by the corporate sector has increased to over Rs10 billion per annum, up 33-fold since the base year 2002, according to data compiled by Pakistan Centre of Philanthropy (PCP).

The data, shared at the recently organised Pakistan Philanthropy Forum 2019 at IBA Karachi revealed that this increase in giving was despite the decreasing number of listed companies registered with the PCP over the past few years. The major chunk of the total donations, however, comes from 25 large companies constituting 80 percent of the share, a statement said.

PCP had organised the forum under the theme ‘Unlocking Philanthropy’s Potential: The Power of Partnerships’.

It was also noted at the forum that oil and gas sector was the major contributor of corporate philanthropy, which was followed by the fertiliser and financial sectors. The forum convened donors, social investors, social and tech entrepreneurs, multilateral agencies, policymakers, government and business leaders, and visionaries from across the world to offer pragmatic insight and constructive responses to pressing global challenges. Under the theme of the forum, panellists and speakers examined how philanthropy works most productively when it supplements the welfare agenda of the state.