The private sector must do more to help the community

Dr. Muhammad Nahed Private sector capital is estimated to be worth billions of Saudi riyals while annual profits reach hundreds of millions. These facts undeniably reflect the strength and robustness of the Kingdom’s economy. However, the level of community partnership within the private sector is below expected standards. There are hardly any community partnerships. The level is low despite our market being open and not imposing taxes or restrictions on profits and remittances. Some well-to-do businessmen have allocated parts of their fortune to charity for the simple reason that they love to give something back to society. They are not giving away charity to circumvent certain laws or evade taxes, but are giving charity to build and develop our economy because this money will not be used, for example, to treat sick people or educate those who are illiterate. To elaborate, money should not be allocated to certain types of charity at the expense of others. Community partnerships should vary and the money given away by the affluent should be utilized in a way that ensures effective community partnership. There are many social fields to which the rich can donate their money and help individuals and society further develop. There are many aspects to community partnerships, not just one. For instance, why do Saudi students studying abroad not build databases for themselves to help companies monitor their performances and choose the best candidates? Why do we not allocate some of the money paid by rich people in Zakat to build non-profit hospitals that could alleviate the suffering of people who cannot afford to go and see a doctor at a private sector hospital? Why do we not support civil institutions that serve and educate society?  Why do we not build non-profit universities for students who cannot afford to pay high tuition fees and why do we not pave roads in remote villages? All of these acts of charity can be done through community partnerships. When a country goes through a tough economic time, the citizens of that country have a duty to cut down their consumption of utility services. Citizens have a role to play and must participate in strengthening their communities. Businesses also have a role to play in community partnerships.