ISLAMABAD: Pakistan`s corporate sector donated about Rs23.65 billion for various social sector causes in 2023, up 41 per cent over Rs16.76bn in 2022, according to the Pakistan Centre for Philanthropy (PCP).

In its latest Corporate Philanthropy Report, the PCP said the Public Listed Companies (PLCs) contributed the largest share of Rs17.69bn while Public Public Unlisted Companies (PUCs) and Private Ltd Companies (PvLCs) also contributed Rs2.60bn and Rs3.36bn, respectively.

To recognise businesses` generous contributions to social causes, PCP gave away Corporate Philanthropy Awards 2024 to the leading donors. Minister of State for Finance, Revenue and Power Ali Pervaiz Malik distributed the awards.

On behalf of the government, Mr Malik acknowledged the social contributions of the corporate sector and the increasing importance of corporate philanthropy in supporting the government`s efforts for social and economic development, particularly in times of crisis.

PCP`s Executive Director Shazia Maqsood Amjad reported that the corporate sector`s philanthropic support escalated significantly during the 2022 floods, with Bank Alfalah Ltd, Mari Petroleum Company Ltd, and United Bank Ltd standing out as lead contributors donating Rs2.18bn, Rs500m, and Rs468m, respectively.

The minister presented awards to the 18 companies, which were ranked the highest in volume and the percentage of donations relative to profit-beforetax (PBT). The recipients included Mari Petroleum Company Ltd, Pakistan Petroleum Ltd, Oil & Gas Development Company Ltd, Sanghar Sugar Mills Ltd, Ghani Value Glass Ltd, Ghani Glass Ltd, Yunus Textile Mills Ltd, Y.B. Pakistan Ltd, Novatex Ltd, Ghani Ceramics Ltd, IJARA Capital Partners Ltd, Green House Ltd, Barrett Hodgson Pakistan (Pvt) Ltd, US Denim Mills (Pvt) Ltd, Diamond Paint Industries (Pvt.) Ltd, Al-Riaz Agencies (Pvt) Ltd and Roomi Enterprises (Pvt) Ltd.

Given the increasing significance of reckoning the impact of philanthropic efforts, the event featured a panel discussion title d `Understanding and Measuring Social Impact of Nonprofits` based on the information and lessons drawn from the Impact Assessment Handbook for Nonprofits, a collaborative research between PCP and the School of Education, LUMS.

The panel highlighted how guidelines and steps from the Impact Assessment Handbook empower nonprofits to conduct impact assessments. This enables donors to identify and support organisations demonstrating measurable outcomes, ensuring that philanthropic investments are directed and utilised effectively.