ISLAMABAD, Sep 25 (APP):The two public sector oil and gas Exploration & Production (E&P) companies would spend around Rs 1.384 billion to carry out welfare schemes and development projects in their operational areas during the current fiscal year under the Corporate Social Responsibility (CSR) initiatives.
“Oil and Gas Development Company Limited (OGDCL) has earmarked Rs 1,019 million and Pakistan Petroleum Limited (PPL) Rs 365.7 million under their CSR programmes for this year,” official sources told APP on Wednesday.
Every year, the OGDCL and PPL allocate 1 percent and 1.5 percent of their pre-tax profit to provide facilities like education, health, clean drinking water, vocational training and infrastructure development in their respective oil and gas producing districts under the Petroleum Concession Agreements.
The sources said the government was making all-out efforts to make the Social Welfare Committees, constituted after Guidelines-2017, more effective bodies to ensure effective execution of the CSR schemes in oil and gas producing districts.
Few months back, they said a Senate Standing Committee on Petroleum had recommended reviewing the committees’ formation, which was aimed at making the bodies a more effective tool in identifying, approving and timely execution of the projects for well-being of local communities.
As per the existing formation, Member National Assembly is the chairman of Social Welfare Committee of his respective oil and gas producing district, DCO/DC is member/secretary, while MPA, district nazim/chairman of district council, tehsil nazim/chairman of tehsil council, nazim/chairman of union
council are its members.