The Coronavirus pandemic has triggered one of the biggest humanitarian and economic crises in modern history. More than 5.5 million people have been infected and the numbers still continue to climb. The World Trade Organization estimates global trade to shrink by as much as 32%. Unemployment in the US has impacted 40 million individuals wiping out more than two decades of gains made by the labor industry.
In Pakistan, the number of infections is close to 60,000 but the extent of financial challenges is even higher. Careful evaluations suggest that 20 million people are expected to be pushed below the poverty line raising the total number of affected to about 100 million.
The Government announced its Ehsaas program recently under which 87 million people have been provided cash relief so far. However, a one-time payment of PKR 12,000 can’t sustain an average size family for more than a month. Therein lies the challenge.
Administrations have limited resources and the impact that they can create alone is restricted. This is where Corporate Social Responsibility becomes a notion of utmost importance.
Corporate entities share varied levels of the burden to aid and facilitate those significantly affected by the COVID-19 outbreak and many have been stepping up to the task. Organizations like Engro Corp., Telenor Pakistan, EBM, Unilever and JS Bank have initiated diverse programs and activities to cater to not just those facing financial difficulties but also frontline workers like doctors, paramedics and law enforcers performing their duties around the clock to ensure our safety and wellbeing.
The Engro Foundation has pledged PKR 1 billion to a variety of relief efforts across the country with 200 million of this amount being spent so far, a significant chunk of which has gone towards disease prevention. The rest is being distributed for enabling healthcare practitioners, bolstering patient care and providing livelihoods & sustenance through various sources.
Telenor Pakistan besides assisting the country’s digital financial landscape is also stepping in to play its role as a significant stakeholder in the betterment of society during these trying times. The company has established a PKR 1.6 billion COVID-19 relief fund and made a PKR 50 million donation to the PM’s relief efforts as well.
JS Bank is another entity which has been at the forefront of relief efforts. Their three-tiered strategy which revolve primarily around providing immediate relief, pandemic control and future response capacity building, has surpassed the initial target to grow to PKR 140 million so far. These resources are being diverted to providing food supplies, PPEs and research grants across the country.
CSR is becoming the backbone of COVID-19 relief efforts both on humanitarian as well as economic horizons and it will continue to play an essential part in the times to come.
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