Government College University’s Endowment Fund Trust (GCU-EFT) awards Rs 8 million scholarships to 235 students
Lahore: Government College University’s Endowment Fund Trust (GCU-EFT) awarded Rs eight million scholarships to the university’s 235 deserving students on Saturday. Vice Chancellor Prof Dr Muhammad Khaleeq-ur-Rahman, who is also EFT chairman, chaired the annual scholarship distribution ceremony while Lahore High Court (LHC) Justice Muhammad Farrukh Irfan Khan, EFT Executive Committee Secretary Dr Khalid Manzoor Butt, eminent industrialist Mian Misbah-ur-Rahman and donors of the trust were also present.
Addressing the ceremony, Prof Rahman said the university’s endowment fund trust was almost doubled by Rs 170 million in a short span of three years due to generous support of Old Ravians and philanthropists. He also told the trust donors that scholarships to 235 deserving students were given purely on merit after the interview of candidates by GCU Financial Aid Committee which comprised of five heads of departments. He said all the documents of applicants from income certificates to utility bills were examined in detail so that only truly deserving students could get scholarships.
Prof Rahman also said he wanted to provide free education to all GCU students but unfortunately resources didn’t allow him. However, he said he had not increased a single rupee in fees since three years despite all the financial constraints from the university’s treasury.
Inspired by the transparency and credentials of scholarships’ recipients, Old Ravians and philanthropists at the ceremony further pledged donations of Rs 10 million for the trust. Justice Muhammad Farrukh Irfan Khan, an eminent Old Ravian, his brothers and family members initiated five more perpetual golden scholarships for deserving students of GCU. Eminent Industrialist Iqbal Z. Ahmad, a private telecommunication company, and a couple of other donors also donated rupees one million each to the trust.
Speaking on the occasion, EFT Executive Committee Secretary Dr Khalid Manzoor Butt said endowment fund trust of Harvard University, US, alone stood at more than 42 billion dollars and this was what made the America superpower. However, he said GCU was the only public sector university which had developed its endowment fund.
Dr Khalid Butt said the endowment funds didn’t spend the principle amount but the profit, earned from the principal amount, was spent on deserving students and development projects. He said if philanthropists, Old Ravians and government supported from five to ten years now the trust would be providing scholarships to all the needy students of the university.
Mian Misbah-ur-Rahman said the culture and trend of supporting education was yet to be developed in Pakistan. He said he would continue his efforts for mobilising Old Ravians for the development of his alma mater.
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