KARACHI, Nov 28: The Pakistan State Oil (PSO) has donated Rs2 million to establish the “PSO Scholarship” for disadvantaged students of the Institute of Business Administration (IBA), a press release said on Thursday.

The scholarship will be announced by the IBA in its annual prospectus from August 2003 onwards. Since the donation is to be invested as a separate endowment fund, this will be an ongoing scholarship.

The general manager training and organization development, PSO, will sit on the managing committee of the scholarship endowment.

The PSO has also established a scholarship fund for the students of Edward College, Peshawar, which will be available to disadvantaged students from December 2002.

Another initiative taken by the MD PSO is the introduction of gold metals for outstanding students of different universities all over Pakistan. The universities are Quaid-e-Azam University, Islamabad; IBA Karachi; University of Engineering, Khuzdar; Punjab University, Lahore (Chemical Engineering); NED University of Engineering and Technology (Mechanical Engineering) and the GIK Institute of Engineering and Technology, Topi (Mechanical Engineering).

The PSO has also been offering the largest number of internships to students of different universities in Peshawar, Islamabad, Lahore, Multan and Sindh.—PPI