Pakistan in a strong presence of local origin corporate sector, comprising some 500 to 600 corporations, duly expects the latter to make meaningful contribution in strengthening the social sector of the country, with major focus on healthcare, education and ultimately poverty alleviation.
This was stated by State Bank of Pakistan Governor, Dr Ishrat Hussein, here on Sunday at the inaugural ceremony of new Soparivala Building, housing the new clinical laboratories at the Aga Khan University Hospitals (AKUH), doubling its existing medical test processing capacity to 10 million tests annually.
The Governor was highly appreciative of the philanthropic spirit registered among the Parsi community of the country and urged the well to do segments of the society in general and corporate sector in particular to realise its responsibility towards poverty-stricken sections.
Highlighting the fact that every third Pakistani is living below the poverty line, with an earning of less than one dollar and in little position to afford education for its children and healthcare for the family, he said the government exposed to varied constraints can not be solely expected to address the situation.
"I would emphasise upon the corporate sector, not merely multi-nationals, to do their bit," the State Bank Governor stressed.
Augmenting his suggestion, he mentioned that during the last three financial years the corporate sector of Pakistan has obtained net profit (after taxation) of 26 percent and lot of them reached 60 percent.
"Does not this behove them to share their profit with charitable organisation or institutions working for masses," he observed.
Referring to the rampant tendency to place all responsibilities on the government, he reminded that resource constraints is a major issue for the government in face of the prevailing culture of tax evasion and reluctance to pay for electricity and other utilities.