ISLAMABAD: The two public sector oil and gas exploration & production (E&P) companies would spend around Rs1.384 billion to carry out welfare schemes and development projects in their operational areas during the current fiscal year under their Corporate Social Responsibility (CSR) initiatives.
“Oil and Gas Development Company Limited (OGDCL) has earmarked Rs1.01 billion and Pakistan Petroleum Limited (PPL) has put Rs365.7 million under their CSR programmes for this year,” an official source told APP on Wednesday.
Every year, the OGDC and PPL allocate 1pc and 1.5pc 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 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, sources stated.
