KARACHI, May 30: The Sindh Education and Literacy Department has asked the State Bank of Pakistan for guidance to avail maximum possible profit-based investment on Rs200 million, released to Sindh Education Endowment Fund by the Sindh government, to benefit poor students through scholarships.
In a meeting of the board of directors for the endowment fund held here on Monday, Education Minister Dr Hamida Khuhro asked the concerned officials to approach the SBP authorities and seek guidance to invest Rs200 million funds at maximum possible rates, so that the deserving students were benefited from the fund’s scholarships.
The meeting was told that the fund was already having balance of Rs400 million, which had already been invested through the purchase of Pakistan Investment Bonds and from the interest money of these bonds, the department provides scholarships to 100 students of recognised educational institutions of both public and private sectors every year for masters in management sciences and information technology.
Education Secretary Mohammad Hashim Leghari, ISRA University vice-chancellor Dr Asadullah Qazi, IBA Director Dr Danishmand also attended the meeting.—PPI
