Inequality in society can be reduced while sustainable development goals attained if the private sector spends a part of their profit on skills development, speakers told a dialogue yesterday.
“Profit is sometimes not the prime target of a business. Sometimes the corporate houses and banks work for social activities for community development although making profit is the number one target,” said Ziaul H Molla, deputy managing director of Bank Asia.
He was addressing a session on “the role of business to reduce inequalities through skill” at the daylong dialogue organised by the United Nations Development Programme (UNDP) at The Westin Dhaka.
On Banks Asia’s role in reducing inequality, Molla said it spent a part of its profit for the welfare of communities through the upgradation of livelihoods. Bank Asia is working with the UNDP in providing rural people easier access to social safety net payments, he said.
Shwapna Bhoumick, country manager of Marks and Spencer (M&S), said to have witnessed inequality in the context that Bangladesh was repeatedly rejected as a sourcing destination of value-added products.
On another form of inequality, Bhoumick said none of the 40 or so women working in the company could imagine one day turning into its chief executive officer.
“We are providing leadership training among them to build up confidence to remove inequality,” she added.
Ruhi Murshid Ahmed, head of corporate social responsibility of Bangladesh Steel Re-Rolling Mills, said their company had a guideline on corporate social responsibility (CSR) since its inception.
She said the BSRM was involved with a number of CSR activities focused on the wellbeing of communities at a disadvantage.
She pointed out that businesses firstly need to be profitable before getting involved with activities of social wellbeing.
Mohammed Emdad Ullah Matin, joint secretary to the Local Government Division, spoke of a national project on “Strengthening Women’s Ability for Productive New Opportunities” of which he was the director.
He said they were trying to avail the private sector’s involvement in the project to provide skills training and create employment opportunities.
Abdul Mannan, director of another such scheme, “Livelihoods Improvement of Urban Poor Communities Project”, said they were working in phases on four million urban poor in 36 city corporations and pourasavas prioritising women and people with disabilities.
Farhina Ahmed, joint secretary to finance division, Asish Goupal, managing director of Marico Bangladesh, and Shaila Khan, assistant resident representative, partnerships and business development, UNDP, also spoke.
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Source: Star Business report
