Corporate Social Responsibility (CSR) is generally understood to be the system in which a firm attains a balance or integration of economic, social and environmental imperatives, whilst at the same time addressing customers and shareholder predictions. On this point, Indus Motor Company Limited (IMC) has been supporting innumerable social and community initiatives for the last 26 years in Pakistan. No doubt, IMC has been seriously taking concrete action to realize its social responsibility aims, thereby creating value for its shareholders and customers.
The management respects human rights, values its employees, and invests in innovative technologies and solutions for sustainable power flow and economic progress. For removing the illiteracy rate from the country, IMC offers regular financial support to a number of educational institutions. IMC has offered advantages to over 30 educational institutions and assisted educational activities. The company strongly believes that careless pursuit of economic growth damages the environment and lowers the quality of life for future generations.
To recycle water used for plantation, the Company has installed a wastewater treatment plant with an investment of Rs50 million and also installed a thinner recycling machine, valuing Rs2.5 million, to recycle the waste thinner in its manufacturing process. In ozone protection, IMC was the first auto firm in the country to begin use of environment-friendly gas R-134a in car air-conditioners.
Furthermore, thousands of trees have been planted at IMC’s plant and developed a garden zone of over 64,000 sq. meters. Economists revealed that millions of people in the country live in places that have unhealthy levels of environment or other air pollutants. To make the people healthier, the company has been supporting the health hospitals/institutions (blood banks & health care hospitals) in Pakistan. The management mentioned that the major hospitals in Pakistan such as Indus Hospital, SIUT, Marie Adelaide Leprosy Centre, the Kidney Centre, Shaukat Khanam Cancer Hospital are the regular beneficiaries of the company. In a humanitarian emergency or natural calamity in Pakistan, IMC is actively involved in providing support for the earthquake and tsunami that hit Japan together in March 2011.
For the half year closed December 31, 2016, the Company’s net sales revenue was recorded at Rs51.4 billion as against to Rs51.3 billion attained for the corresponding period previous year. The resultant PAT (profit after tax) is Rs6.1 billion, as compared to Rs5.9 billion attained for the corresponding period previous year. The management’s statistics showed that the revenue and profit rose slightly against corresponding period last year, chiefly on account of enhanced turnover of trading segment.
It is believed that a majority of local financiers will be encouraged by the present measures taken by institutions and some leading corporate leaders to commence a viable and flourishing CSR culture in Pakistan. Attempts should be made to encourage firms to publish their CSR strategies and practices and such reports should be made a voluntary part of the Code of Corporate Governance for cataloged firms. This would promote CSR culture and standards amongst firms in the field of CSR.