Muhith stresses CSR efforts for welfare

KM Rezaul Hasanat, chairman & chief executive officer of Viyellatex Group, receives a CSR award from Finance Minister AMA Muhith, third from left, at a programme co-organised by Standard Chartered Bank and The Financial Express yesterday. Photo: STAR

Finance Minister AMA Muhith yesterday asked the business community to come forward to contribute to people's welfare, as it is difficult for the government alone to ensure all facilities for the entire population.
"The government alone cannot ensure welfare for 150 million people," Muhith said at the Standard Chartered Bank and Financial Express corporate social responsibility (CSR) awards ceremony at Radisson Water Garden Hotel in Dhaka.
Muhith also stressed the government's responsibility to the business community and said the state should provide tax incentives to businessmen for CSR activities.
Back in history, the minister said, CSR activities started in the region 200 years ago, when rich businessmen had willingly contributed part of their profits to social welfare.
The CSR awards went to Rahimafrooz Bangladesh and Viyellatex Group for their "outstanding contribution" to society. Rahman Knit Garments bagged a CSR award in a special category.
Rahimafrooz operates in different segments, including automotive batteries, power and energy and retail. Much of the Rahimafrooz CSR effort is carried out through its Rural Service Foundation, a social development initiative.
Apart from creating more than 10,000 job opportunities, Viyellatex that operates in textiles and garments has significant spending in educational, social and free health care programmes, in line with its CSR activities.
Standard Chartered and The Financial Express jointly initiated the award in 2005.
Bangladesh Bank Governor Dr Salehuddin Ahmed suggested industry leaders should mention CRS activities in their financial statements to make people aware of their contributions to society.
Economist Prof Wahiduddin Mahmud said CSR activities could be a good business strategy as it helps deepen relations between the business community and the rest of the society.
Osman Morad, chief executive officer of Standard Chartered, and Moazzem Hossain, editor of The Financial Express, were also present.