March 10, 2012 2:50 PM

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CSR not to be compulsion, says Praful

Union Minister of Heavy Industries and Public Enterprises, Praful Patel said in Mumbai today that Corporate Social Responsibility, CSR, should not be considered a compulsion since it needs to be undertaken for creating measurable value for society. Mr. Patel inaugurated a symposium organised by The Department of Public Enterprises in partnership with the World Bank and Harvard Business School in Mumbai today. While addressing the symposium held on CSR, Mr. Patel said that Public and Private sectors should pool their resources and undertake larger projects with larger impact jointly. He said that the department of Public Enterprises is also learning from the successful CSR practices of the state owned enterprises in the developed and developing economies through conferences, workshops, seminars and state tour. He also said that the government has already framed guidelines for memorandum of understanding between Central public sector enterprises and it lays stress on the link of CSR with sustainable development.

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