ISLAMABAD: Finance Minister Muhammad Aurangzeb has stressed the need for transparency in philanthropy to ensure aid reaches the intended beneficiaries effectively.
“Transparency from philanthropy to the end beneficiaries is essential,” he said while presiding over the Prime Minister’s Committee on Social Impact Financing meeting.
“Digital solutions must be integrated to ensure efficient systems, while accountability and impact evaluation will build trust and credibility among stakeholders,” Aurangzeb added.
The finance minister reiterated the government’s resolve to support initiatives that foster inclusive growth, sustainable development and community welfare while empowering the private sector to take the lead in driving meaningful social impact.
Aurangzeb highlighted the government’s role in establishing a policy and regulatory framework for social impact financing, emphasizing that the private sector would lead implementation efforts.
“The private sector has already been doing an outstanding job in this domain, and we must focus on creating an enabling environment rather than establishing yet another government institution. This aligns with the government’s rightsizing objectives,” he said.
He further stressed the importance of moving beyond charity to broader impact financing, the statement added.
Meanwhile, the discussions centered on key priorities including developing a policy and regulatory framework to connect philanthropic contributions, including Sadaqaat and Zakat, with the under-served segments of society.
