Punjab govt to fund students up to master level under PEEF

Lahore, The Punjab government has declared to give scholarships to brilliant students under the Punjab Educational Endowment Fund (PEEF) and to support them until the completion of their Masters Degree.

According to sources, the scholarships would allocate to students of Matric level and would continue to Masters level.

The endowment fund was initially started with Rs2 billion, which had now gone up to Rs10 billion.

The sources said that the Punjab government had distributed scholarships among more than 30,000 students and the numbers were likely to increase to 40,000 in December.

Under the endowment fund, besides providing scholarships to the education institutes of Punjab, students of other institutions of the country including FAST University Islamabad, Comsats University Islamabad, Institute of Business Administration (IBA) Karachi, Ghulam Ishaq Khan Institute (GIKI) Swabi and many others would also be provided the scholarships.

Chairman Punjab Education Foundation, Raja Anwar has said that the PEF has introduced cheaper model of education for poor children through public private partnership.

The Punjab Educational Endowment Fund (PEEF) is an initiative of the Government of Punjab under the leadership of Chief Minister, Mr. Muhammad Shahbaz Sharif. To make it more efficient, transparent in its functioning, it is registered as Public Limited Company under section 42 of the Companies Ordinance, 1984.

PEEF is established to provide scholarships to talented and needy students for chasing quality education with equal opportunities. The Punjab Educational Endowment Fund endeavors to bring best educational prospects to the less privileged and talented youth of Punjab, and bring them at par with the most fortunate ones

This endowment fund was initially established with of Rs. 2 billion, which has now been raised to Rs. 8 billion. The Govt. of the Punjab has pledged to raise the endowment fund to Rs. 10 billion in the next 2-3 years. Only investment proceeds out of this fund are utilized for the award of scholarships.