PEF will spend Rs 12 billion on education during 2016-17

Lahore : The Punjab Education Foundation (PEF) will spend an amount of Rs. 12 billion on education of children from low income families during the current fiscal year. This amount will be spent on free schooling projects launched in collaboration with private partnering schools in the province. More than two million students are getting free school education under these programs. The purpose of these projects is to help rehabilitate the needy students to stand on their own feet in the practical life.

MD PEF Tariq Mahmood said this while presiding over a meeting on budgetary utilizations during 2016-17 at his office on Monday. Different program directors attended the meeting.

He said that in order to ensure timely funding to our partners every month, a proficient financial system has been designed. Similarly, we have also designed and implemented robust control structures that guide in financial and internal control related policies and procedures. It is satisfying that PEF has ensured consummate transparency in its budget utilizations while multiple third-party audit system is also in place.

Mr. Mahmood said that role of foundation is very pivotal in opening the doors of education to those who cannot open it own their own. He vowed that PEF will continue to play a leading role in eradicating illiteracy and ignorance by promoting free quality education at the grassroots.

The meeting also reviewed budgetary allocations for different free education programs for 2016-17 and noted that online payment system is benefiting the school partners.