OICCI Members Spend Rs 13 Billion for CSR Activities

OICCI Members Spend Rs 13 Billion for CSR Activities

Karachi, July 2, 2024 – The members of the Overseas Investors Chamber of Commerce and Industry (OICCI) have made a significant contribution to Corporate Social Responsibility (CSR) activities, spending an impressive Rs 13 billion in the fiscal year 2022-2023.

This substantial investment has positively impacted 40 million individuals across Pakistan, demonstrating the commitment of OICCI members to social and economic development beyond their business interests.

A statement issued on Tuesday highlighted that the CSR efforts of OICCI members spanned all four provinces of Pakistan, including Azad Jammu and Kashmir and Gilgit-Baltistan. These efforts were carried out in collaboration with over 290 social sector organizations, aiming to build a legacy of positive change in the country.

The OICCI 2023 Corporate Social Responsibility (CSR) Report emphasizes the profound impact of over 210 foreign investors who are dedicated to not just pursuing profits but also enhancing lives across Pakistan. Their CSR initiatives align closely with the United Nations’ 17 Sustainable Development Goals (SDGs), showcasing a holistic approach to business and social responsibility.

OICCI President Rehan Shaikh commented on the CSR initiative, stating, “True leadership in business is measured not only by financial success but by the positive impact one makes on society. Our commitment to Corporate Social Responsibility reflects the belief that sustainable business success and social good are inseparable.”

The report detailed significant contributions in various sectors, particularly education and skill development. According to UNICEF, around 23 million Pakistani children aged five to 16 are not in school, making it the second-highest figure globally. In response, OICCI members contributed Rs 2.3 billion towards SDG 4 in 2023 alone, supporting education and skill development for vulnerable children. This was achieved in collaboration with organizations such as The Citizen Foundation, Akhuwat Foundation, STEM Pakistan, SOS Village, and public sector schools.

Ahmad Zahid Zaheer, a member of the OICCI management committee, highlighted these efforts, stating, “In 2023 alone, our members contributed Rs 2.3 billion towards SDG 4, supporting education and skill development for vulnerable children.”

Furthermore, OICCI CE/Secretary General M Abdul Aleem expressed gratitude towards the OICCI members, acknowledging their exemplary support for various SDGs. He noted, “Our members have also been exemplary in their support for access to affordable and clean energy (SDG 7) with a contribution of Rs 2.2 billion, decent work and economic growth (SDG 8) with Rs 2.6 billion, and Rs 2.1 billion contribution towards improving life on land (SDG 15).”

These funds have supported key activities, including the provision of solar panels to farmers and flood-affected communities, vocational training, tree planting, and effective waste management skills. Aleem concluded, “The OICCI CSR 2023 Report not only showcases the financial commitment of MNCs in Pakistan but also their role in driving positive social change and sustainable growth throughout the country.”

The OICCI, representing major foreign investors in Pakistan, has over 200 members from more than 30 countries. These members contribute over one-third of Pakistan’s total tax revenue and are involved in 14 sectors of the economy. They facilitate the transfer of technology and skills, provide significant employment, and about a third of OICCI member companies are listed on the Pakistan Stock Exchange. Many are associates of Global Fortune 500 companies, further underscoring their influence and impact. Through their CSR activities, OICCI members benefit 46 million individuals from underprivileged communities, reinforcing their commitment to the country’s socio-economic development.