SECP asks companies to contribute for Diamer-Bhasha, Mohmend dams as part of CSR

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has asked more than 88,000 registered companies to contribute for construction of Diamer-Bhasha and Mohmend dams as a part of corporate social responsibility (CSR).

In a circular issued to all the registered companies in Pakistan, the SECP said in view of the initiative taken by the honorable Supreme Court of Pakistan, all companies are hereby encouraged to contribute towards the great national cause of building dams.

“This initiative and contribution, as a part of CSR on behalf of the companies, will go a long way in resolving the water crises being faced by the country. Construction of these dams will not only help in fulfilling the water need in coming decades but will also increase business activity leading towards boom in the corporate sector,” it said.

The SECP spokesperson said the number of registered companies with them was 88, 030, ARY News correspondent Rizwan Amir reported.

He also announced that all the employees and officers of the SECP will contribute their salary of one day for the two dams.

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The government has established ‘Diamer-Bhasha and Mohmand Dam Fund’ in pursuit of the instructions of the top court. The chief justice has passed a short but historic judgment for the construction of both dams while hearing a case against water scarcity.

The fund shall receive donations and contributions from both domestic and international donors, individuals and companies, and the general public has been requested to contribute generously.

The fund has been established to overcome shortage of water and power in the country. The top judge also donate Rs1 million for the cause.

Earlier, the armed forces also announced to contribute for the purpose, as officers would contribute their two-day pay while soldiers will contribute one-day salary.