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Social business rather than charity eradicates poverty : Chaudhary Featured

Written by  Published in Economy Saturday, 09 November 2013 17:45

Kathmandu, November 09 (CNS) -- President of Chaudhary Group (CG) Mr. Binod Chaudhary said that poverty and inequality in the world can be eradicated by creating self income generating opportunities not by charities.

Addressing Global Social Business Summit 2013 in Malaysian capital Kuala Lumpur on Friday, Mr. Chaudhary said one has to teach fishing skills rather than provide fish if poverty is to be eradicated from the world. “If you give fish to a hungry man, it will last only one particular meal. Whereas if you teach the hungry man about fishing, that will be a lifetime contribution to him,” Mr. Chaudhary added, “That’s how the huge global success of microfinance initiative, the concept of social business was born.”

Mr. Chaudhary shared the floor with noted luminaries representing the private sectors, civil society, governments and academia from many countries and continents like Nobel laureate Prof. Muhammad Yunus, Dr. Fatima al Balooshi, Minister of Social Development, Bahrain and Mr. Martin Löffler, Director, California Institute for Social Business, among others. The CG President was invited as a speaker in the summit as a pioneer of social business in Nepal. 

“It is true that charity is not enough, it’s not creating jobs, it is not generating wealth amongst the poor and the less privileged of our society,” Mr. Chaudhary added, “Social business is an effective tool for sustainable development which improves the living standards of the people and bring visible changes in the life of rural people also.” He stressed that corporate world should more focus on social business for creating more jobs and eradicate poverty.

Referring that around 3 billion people are still under the poverty line with annual income less than $2.50 a day and 1 billion people lack adequate access to safe drinking water, Mr. Chaudhary said social business can play a vital role to improve this statistics. It is high time corporate world should now come forward to prevent diseases like diarrhea and pneumonia which take the lives of around 2 million children a year, he said.

CG in collaboration with ‘Yunus Foundation’ has introduced social business concept in Nepal. CG is planning to fund Rs 5 million for the purpose. It has already introduced some self-employment generating project for youths in Dibyapuri, Pragatinagar, Pithauli, Kawasothi, Arghauli, Kumarwati, Deurali and Tamsariya VDCs of Nawalparasi district. Around 2240 families including 6023 female and 6154 male have been benefitted by the project in these VDCs.

The project covers agriculture, horticulture, small business and foreign employment areas. Nepal Social Business Fund is mulling to assist in areas like micro-finance, solar energy, drinking water, small hydropower projects, rural tele-communication, education, health and social awareness campaigns in Jajarkot district in near future.

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