Lahore: The Government College University, Lahore Endowment Fund Trust (GCU EFT) has awarded scholarships worth rupees eight million to the university’s 235 deserving students at the Annual Scholarship Distribution at the Bukhari Auditorium.
Vice Chancellor Prof Dr Muhammad Khaleeq-ur-Rahman, who is also EFT chairman, chaired the ceremony, while Lahore High Court Justice Muhammad Farrukh Irfan Khan, EFT Executive Committee Secretary Dr Khalid Manzoor Butt, eminent industrialist Mian Misbah-ur-Rahman and the donors of trust were also present.
Addressing the ceremony, Vice Chancellor Prof Rahman said the university’s endowment fund trust was almost doubled to Rs 170 million in a short span of three years due the generous support of Old Ravians and philanthropists. He also told the trust donors that the scholarships to 235 deserving students were given purely on merit after the interview of candidates by the GCU Financial Aid Committee which comprised of five heads of departments. He said that all documents of applicants from income certificates to utility bills were examined in detail, so that only truly deserving students shall get the scholarships.
Prof Rahman said that GCU was also providing hefty amount for scholarships from the university’s budget; details of which would be published at the end of financial year. He also said that he wanted to provide free education to all GCU students, but unfortunately resources didn’t allow him. However, he said that he had not increased a single rupee in fees for the last three years despite all the financial constraints and pressures from the University’s treasury.
Inspired by the transparency and credentials of the 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 the 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 Kahlid Manzoor Butt said that 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 that GCU was the only public sector university which had developed its endowment fund.
Dr Khalid Butt said that the endowment funds didn’t spend the principle amount but the profit, they earned from the principal amount, was spent on deserving students and development projects. He said if the philanthropists, Old Ravians and government supported, from five to ten years now the trust would be providing scholarships all the needy students of the university.
Eminent industrialist Mian Misbah-ur-Rahman said the culture and trends of supporting education and deserving students was yet to be developed in in Pakistan. He said that he would continue his efforts for mobilizing Old Ravians for the development of his alma mater.