Corporate Social Responsibility (CSR) refers to transparent business practices that are based on ethical values, compliance with legal requirements and respect for people, communities and the environment. These were the views expressed by the speakers at the two-day International Conference on Corporate Social Responsibility organised by the University of Central Punjab here on Tuesday.
They also said that both academia and the private sector have global reach and resources. They will work hand in hand in addressing common issues, the stream of benefits for community can multiply. They said that through CSR partnerships these resources can be harnessed to promote a synergistic approach to improve status of local communities. Speaking on the occasion Governor Punjab Salman Taseer said that we have to create tax-paying culture and according to his information, no politician was registered in the Large Tax Unit (LTU). He said that co-operate companies were playing important role in the economic uplift of the people and stressed his hope that more and more companies will come forward. He said in our religion 'Zakat' is the way to help the needy, but the people avoid giving Zakat.
While talking to the reporters, he said that writing letters is his constitutional right and he will keep on performing his duties according to the constitution. He said that it seems that they were suffering from "governor phobia." He said that the government has given answers to his letters. He also said that the maintenance of law and order is the responsibility of the government.
Former Advisor to PM on Finance and Economic Affairs Dr Hafiz A Pasha said that most of the companies were not fulfilling the CSR and not paying income tax. He appealed to the business community to behave in a social responsible manner. He said that poverty has risen sharply over a year and more then 10 million additional people have been added who were living below poverty line. He said that philanthropists should be needed.
Former Finance Minister Sartaj Aziz has said that there is a need to create awareness about the CSR and if the company is running the business successfully and according to the law, they were fulfilling their CSR. He also said that long-term CSR is that companies should work in the education, health, environment, and human rights. He further said that active co-operation of the governments would be essential in enabling linkages with community infrastructures. He said that funding from the IMF was the bitter bill, which Pakistan needed. He also said that we have to reduce the fiscal deficit and increase our production.
Earlier, in his welcome address Chairman Board of Governors University of Central Punjab Mian Amer Mehmood said that UCP has organised the international event for the first time in Pakistan, where academicians and corporate experts of CSR will exchange their experiences.
Moreover, the participants from corporate sector will share their contribution made for community development through company presentations. Minister for State on Finance and Economic Affairs Hina Rabbani Khar came for 15 minutes and left the seminar without any comment, which was a great surprise for the participants and media. Members of the chambers of commerce and industries, representatives of national and multinational companies attended the seminar.