ISLAMABAD: Finance Minister Muhammad Aurangzeb urges greater transparency and stronger corporate philanthropy to reinforce Pakistan’s “moral economy,” speaking at the launch of the Corporate Philanthropy Report 2024 by the Pakistan Centre for Philanthrop
for Finance and Revenue Senator Muhammad Aurangzeb has emphasised the need to strengthen Pakistan’s “moral economy” through enhanced corporate and individual philanthropy, calling it a defining feature of the nation’s identity. He made these remarks while speaking as chief guest at the launch and award ceremony of the Corporate Philanthropy Report 2024, organised by the Pakistan Centre for Philanthropy (PCP) in Islamabad on Tuesday.
The minister said that while he is often questioned about economic recovery, structural reforms, and inclusive growth, it was equally important to acknowledge Pakistan’s longstanding culture of generosity and commitment to social welfare. He noted that the World Giving Index ranks Pakistan 17th among 101 countries—an acknowledgment of the country’s strong tradition of charitable giving, particularly in health and education.
Reflecting on his years living and working in Karachi, Senator Aurangzeb pointed out that the city has historically led the country in philanthropic contributions. He said Karachi would stand among the top global cities in corporate philanthropy if international city-wise comparisons were available. He added that while contributions from other regions are expanding, Karachi’s leadership remains.“remarkable and exemplary.”
Drawing on his private-sector experience, Senator Aurangzeb recalled leading an organisation that dedicated 1% of its annual profitability to a corporate foundation—a figure later increased to 1.5% by its board. He praised the award-winning companies, describing them as “champions setting the benchmark” for responsible corporate citizenship.
He lauded the leadership of PCP Chairman Zaffar Khan, calling him “an officer and a gentleman” whose integrity and long-standing service have contributed significantly to the institutionalisation of philanthropy in Pakistan. He appreciated PCP’s transparency and certification mechanisms and urged continued efforts to enhance the efficiency and robustness of its processes.
The minister also linked PCP’s work with ongoing government initiatives to strengthen the social sector through innovative financing. He highlighted his role in leading the Prime Minister’s Social Impact Financing Framework, which shifts from broad spending to results-based, impact-linked financing by combining public, private, and philanthropic capital. He acknowledged contributions from Mehnaz Akbar and Shazia Amjad in shaping the framework.
Senator Aurangzeb further announced that Pakistan’s first Skills Impact Bond—developed in partnership with the British Asian Trust and implemented via NAVTTC—would be launched soon to support skills development and move toward sustainable, market-based social financing instruments.
Concluding his remarks, the finance minister congratulated all award recipients and reaffirmed the government’s resolve to promote responsible and purposeful giving. He assured PCP of full support in advancing a stronger culture of philanthropy nationwide.
