KARACHI: Governor, State Bank, Yaseen Anwar, has urged the corporate sector to further build institutional mechanism for pooling philanthropic contributions from individuals and corporations to address social issues on a greater scale.

Speaking at a ceremony for distribution of Pakistan corporate philanthropy awards and launching of Corporate Philanthropy Report 2010 in Karachi, he said that these efforts would feed into the overall competitive context of the corporate sector, enabling the companies to leverage efforts and infrastructure for development of the nation.

The SBP governor stressed the need for developing a business case for corporate philanthropy initiatives.

“The business case may be developed on fundamentals, such as strengthening corporate legitimacy and reputation, building competitive advantage, and creating win-win situations through synergistic value creation,” he said, adding that the corporate philanthropy must seek partnerships to create synergies with other philanthropists for scale and sustainability and long term impact on social indicators.