The passion of giving and taking part in philanthropic activities increases among people as the month of Ramazan starts. This year, generous Pakistanis have not been reluctant to take part either, maintaining their reputation. The magnitude of charitable giving this year is expected to reach a new height of around Rs 173 billion. The estimate was worked out after hiking last year’s charity spending of Rs 158 billion by 10%.
An economist talking to Dawn News commented that harsh summers could have discouraged door to door collection of charity but promotional campaigns on television are noticeable.
‘’It is a private activity but it provides relief to the neglected; all the more relevant as the state is too self-indulgent to be able to meet the basic obligation of providing social security to all citizens’’ – he said (Source: Dawn News)
According to a study released in 2016 by Pakistan Centre for Philanthropy ‘’The state of individual philanthropy in Pakistan’’ revealed that annual household giving in Pakistan was Rs 239.7 billion in 2014 and witnessed a three-fold increase since 1998. It also found that major share comprises of monetary donations but people also donate by time volunteerism. For evaluation, all categories of giving were monetized.
‘’If the volume of donations can double every five years in period of 16 years ending 2014 (posting a 20 pc increase per annum), during time when the mean GDP growth rate was lower than it is today we can safely assume that magnitude of donation may have multiplied faster during the past four years of economic revival’’ – said an expert on the subject (Source: Dawn News)
The Stanford Social Innovation Review in March 2018 reviewed and commented on the trend of philanthropy in Pakistan. The findings stated the charitable giving in Pakistan is over 1% of GDP. In this particular aspect, the country is in the league with far wealthier nations such as Canada (1.2 pc) and United Kingdom (1.3 pc) and stands twice at what India spends on giving in terms of percentage.
VIA: DAWN NEWS
What are your views on this? Share with us in the comments bar below.