The National Institute for Competitiveness (NIC) has signed a memorandum of understanding (MoU) with the German Technical Co-operation (GTZ) to launch a corporate social responsibility programme for Pakistan's industry.
NIC Chairman Saquib Mohyuddin and GTZ Country Director Dr Ingolf Vereno signed the memorandum on behalf of their respective organisations.
This programme is aimed at translating social and ecological demands into practice, while taking into account the legal and institutional framework without harming the profit-orientation business and industry.
Under the proposed plan, national corporate social responsibility cells would be formed to motivate the industry for participating in it and ensuring its implementation.
A multi-stakeholder initiative will also be set up in the form of a public-private partnership to introduce corporate social responsibility on a long-term basis in the country. The focus of this program will be on the micro, small and medium entrepreneurs using benchmarking as a tool to bridge gaps in the industry.
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