Profit maximization for their shareholders should not be the only focus of the operations of multinational companies (MNCs) and they should re-plough some of their profits by increasing investments in corporate social responsibility (CSR) activities for social uplift of the country.

This was observed by Zahid Maqbool, President, Islamabad Chamber of Commerce & Industry while exchanging views some representatives of multinational companies at ICCI. He said financial health and growth of MNCs depends on the loyalty of their customers and they should give something back to their customers as well as to the society at large in terms of investing some of their earnings in public welfare activities. It will not only strengthen their relations with their customers, their public image will further improve, he added.

He said poverty level in Pakistan has gone up to 36 percent in 2009 from 33.8 percent in 2008 which reflects the lack of public sector capacity to undertake more developmental works. Therefore, he stressed that private sector should come forward to play its due role in reducing poverty from the country by investing some share in poverty alleviation projects.

Zahid Maqbool said MNCs can also help in improving people’s skills which is the best way to create and participate in developmental activities. He urged the government to involve MNCs in national policies for capacity building & skill development, which will help in increasing entrepreneurship capacity and promoting public-private partnership in the country apart from securing jobs of skilled workers.

The delegation members appreciated useful input of ICCI on CSR and added that many MNCs & NCs including Suzuki, Shell, ICI, Proctor & Gamble, Unilever, Barclays Bank, Tetra Pak, Mobilink, Telenor Indus Motors, English Biscuit, Fauji Foundation, SNGPL, etc. are already participating handsomely in social development by making good investments in CSR activities while more will follow the suit to contribute their share for social uplift of the country.