A 14 billion rupee budget was used to establish the Pakistan Endowment Fund for Education

News Update

The Pakistan Endowment Fund for Education was formally launched by Prime Minister Muhammad Shehbaz Sharif, who also stated that computer programming and constitutional studies will be added to the National Curriculum.

PKR 14 billion ($82 million) was budgeted for the program over the next four years, including PKR 3 billion ($17.5 million) to be paid during the current fiscal year, the prime minister said during the program’s opening event on Wednesday.

Prime Minister Sharif said during his speech that he wanted to continue the initiative forever with more funds to provide as many worthy students access to greater education as possible.

He encouraged the newly elected administration to give the education sector top priority and suggested increased investment for this program of up to PKR 140 billion ($823 million) during the next ten years.

In 2008, while he was Punjab’s Chief Minister, the Prime Minister established the Punjab Education Endowment Fund (PEEF), which receives a yearly grant of PKR 2 billion ($11.7 million).

News Update
News Update

More than 400,000 students, he pointed out, had benefited from the PEEF and were now working for the nation in a variety of professions.

The development of education, according to Prime Minister Sharif, is not a form of political endeavor but rather a kind of religion.

He promised to devote particular attention to the less developed regions of the nation, where many young people struggle to finish their educations owing to a lack of funding.

The Prime Minister expressed optimism that a $3 billion stand-by arrangement with Pakistan would be approved at the current International Monetary Fund (IMF) board meeting.

He noted that depending on outside help to avoid bankruptcy is not something to be proud of, but instead urged resolve and coordinated efforts to assure the development and financial health of the nation.

The Prime Minister emphasised the need of prioritising several areas, notably education, to assist Pakistan reclaim its lost grandeur, drawing inspiration from China’s success story.

He emphasized the sizeable financial help from Saudi Arabia as well as the United Arab Emirates, as well as the major financial support from China, which included $5 billion distributed in the previous three months.

Prime Minister Shehbaz Sharif presented scholarship checks to gifted and worthy students who would profit from the recently launched scheme as part of the inauguration event.

The program, which was designed after the Punjab Education Endowment Fund, intends to provide scholarships based on merit to students studying engineering, nursing, farming, social sciences, as well as allied health sciences, according to Minister for Education as well as Professional Training Rana Tanvir Hussain.

He said that the administration has chosen to include computer coding as well as constitutional study in the national curriculum in response to the present circumstances. Under the direction of Prime Minister Shehbaz Sharif, all of the provinces have unanimously endorsed this choice.

The Pakistan Endowment Fund for Education was further explained by Waseem Ajmal, Federal Secretary of Education.

He said the procedure would be open and effective since scholarships would be given to students via the Higher Education Commission (HEC) and National Endowment Scholarships for Talent (NEST).

The government’s dedication to delivering high-quality education and empowering students to contribute to the socio-economic growth of the nation is shown by the establishment of the Pakistan Endowment Fund for Education and the inclusion of coding as well as constitutional studies in the curriculum.

FAQs

What is the PEEF’s history?

Shahbaz Sharif, the organization’s chairman, and Punjab’s Chief Minister, founded it in 2008. It awards scholarships to deserving students who are unable to pay their tuition. The Punjabi government created the Punjab Educational Endowment Fund (PEEF).

What recent information is there about the PEEF scholarship?

In 2022, the PEEF would have given more than 440,000 deserving students in Punjab along with other federating units scholarships totaling Rs. 26 billion. Furthermore, the overall amount of scholarships given will increase to more than 455,000 when the scholarships for the current year (2022-23) are included in.

What requirements apply to the PEEF scholarship?

obtained at least 60% in the past three years’ annual exams conducted in Punjab, or a minimum CGPA of 2.5, in BA, BSc, BCOM, BS, or BBA, for example. The PEEF Master’s scholarship program is open to students registered in morning, afternoon, or evening classes as well as spring or fall sessions (where applicable).

Conclusion

Computer programming and constitutional studies will be added to the National Curriculum. $82 million was budgeted for the program over the next four years.

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