OICCI members invest Rs13b in local communities, impacting 40 million Pakistanis

The Overseas Investors Chamber of Commerce and Industry (OICCI) member companies have invested Rs13 billion in local communities during 2022-2023, positively impacting 40 million individuals across Pakistan.

In partnership with over 290 social sector organisations, OICCI members have extended their Corporate Social Responsibility (CSR) initiatives to all four provinces, and Azad Jammu and Kashmir and Gilgit-Baltistan. Their efforts aim to build a legacy that transcends profits and inspires progressive change in Pakistan.

The OICCI’s 2023 CSR Report highlights the profound impact of over 210 foreign investors committed to enhancing lives across Pakistan, aligning their efforts with the UN’s 17 Sustainable Development Goals (SDGs).

"True leadership in business is measured not only by financial success but by the positive impact one makes on society," said OICCI President Rehan Shaikh. "Our commitment to CSR reflects the belief that sustainable business success and social good are inseparable."

The report details significant contributions in education and skill development, responding to the crisis highlighted by UNICEF, which states that around 23 million Pakistani children aged five to 16 are not in school—the world’s second highest figure. Ahmad Zahid Zaheer, a member of the OICCI management committee, noted, "In 2023 alone, our members contributed Rs2.3 billion towards SDG 4, supporting education and skill development for vulnerable children in collaboration with organisations such as The Citizen Foundation, Akhuwat Foundation, STEM Pakistan, SOS Village, and public sector schools."

OICCI CE/Secretary General M Abdul Aleem expressed gratitude towards the members, stating, "Our members have also been exemplary in their support for access to affordable and clean energy (SDG 7) with a contribution of Rs2.2 billion, decent work and economic growth (SDG 8) with Rs2.6 billion, and Rs2.1 billion towards improving life on land (SDG 15)."

These funds supported various activities, including providing solar panels to farmers and flood-affected communities, vocational training, tree planting, and effective waste management skills.

"The OICCI CSR 2023 Report not only showcases the financial commitment of MNCs in Pakistan but also their role in driving positive social change and sustainable growth throughout the country," Aleem concluded.

The OICCI represents major foreign investors in Pakistan, with over 200 members from more than 30 countries. OICCI members contribute over one-third of Pakistan’s total tax revenue, are involved in 14 sectors of the economy, facilitate the transfer of technology and skills, and provide employment to a significant number of people. About a third of OICCI member companies are listed on the Pakistan Stock Exchange, and many are associates of Global Fortune 500 companies. OICCI members also engage in CSR activities benefiting 46 million people from underprivileged communities.