Karachi, May 22, 2012 (PPI-OT): Securities and Exchange Commission of Pakistan (SECP) has prepared corporate social responsibility (CSR) guidelines for public companies.
According to Alfalah Securities Limited, the draft of guidelines named ‘Corporate Social Responsibility Voluntary Guidelines, 2012’ has been put up on the website which will be finalized after consultation with external stakeholders and general public. The guidelines will be applicable to all public companies and are expected to be effective from July 1, 2012. As per the guidelines every company will be required to provide descriptive as well as monetary disclosures of the CSR activities undertaken during each financial year in the directors’ report. This measure would promote a healthy social and corporate environment thus, improving the overall efficiency of the system.