THE PUNJAB EDUCATIONAL ENDOWMENT FUND PEEF INAUGURATION JAN. 2009 - - PowerPoint PPT Presentation

THE PUNJAB EDUCATIONAL ENDOWMENT FUND

PEEF INAUGURATION JAN. 2009

INTRODUCTION & GOVERNANCE

Investing in Future THE PUNJAB EDUCATIONAL ENDOWMENT FUND

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PEEF Establishment

A company set up under Section 42 of the Companies Ordinance 1984 Incorporated on 31

• Dec. 08

The company is governed by a Board of Directors

Chief Minister Punjab is the Chairman of BOD

Investing in Future THE PUNJAB EDUCATIONAL ENDOWMENT FUND

Objectives

Scholarship for talented and less privileged students to bring them at par with the more fortunate one’s Creation of a critical mass of talented youth for the development of society Identification and support to extremely marginalized students through special quotas Supporting the less privileged and best students of PBTE, other provinces - including AJK , FATA, Gilgit-Baltistan, ICT

THE PUNJAB EDUCATIONAL ENDOWMENT FUND Investing in Future

PEEF Operations

 Scholarship Section  Finance Section  Monitoring & Evaluation  Internal Audit  Admin & HR  IT

Investing in Future THE PUNJAB EDUCATIONAL ENDOWMENT FUND

SCHOLARSHIP POLICY, PROCESS & PROGRESS

Investing in Future THE PUNJAB EDUCATIONAL ENDOWMENT FUND

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Scholarship Policy

• Allocation
• Govt. Institution

90%

• Private Institution

10%

• Scholarships categories
• Outreach

80%

• Special Quota

20%

• Orphans
• Children belonging to minority religions
• Special children
• Children of govt. servants in BPS 1- 4
• Scholarships quotas for Punjab Board of Technical Education,

COEs & other provinces including AJK, FATA, GB & ICT

THE PUNJAB EDUCATIONAL ENDOWMENT FUND Investing in Future

Scholarship Levels & Categories

• Secondary

20%

• Intermediate

30%

• Graduation

30%

• Masters

20%

Levels

• Outreach

80%

• Special Quota

20%

• Orphans
• Children from Minorities
• Children of Govt. Servants of Grade 1-4
• Special Children

Categories

Investing in Future THE PUNJAB EDUCATIONAL ENDOWMENT FUND

Scholarship Stipend Rates

• Sr. #

Level Category Monthly Stipend Rates (Rs.) 1 Master’s Day scholar 3,000 & (100% tuition fee) Boarder 5,000 & (100% tuition fee) 2 Graduation (professional degree program; e.g. MBBS, BS IT, BS Hons.etc.) Day scholar 3,000 Boarder 4,500 3 Graduation (2 year degree program; e.g. BA, B.Sc., Diploma, etc.) Day scholar 2,500 Boarder 4,000 4 Intermediate Day scholar 1,500 Boarder 3,000 5 Secondary Day scholar 800 Boarder 1,500 THE PUNJAB EDUCATIONAL ENDOWMENT FUND Investing in Future

Salient Features

District Category

• No. of

Districts % of Scholarship Allocation Less Developed Districts (LDDs) 16 50 % Developed Districts (DDs) 20 50 %

More scholarships for Less Developed Districts (LDDs)

THE PUNJAB EDUCATIONAL ENDOWMENT FUND Investing in Future

Salient Features …

• Award of scholarships on the basis of tehsil,

gender & educational group wise merits

• Equal no. of scholarships to all tehsils in a

district

• Equal no. of scholarships for boys and girls
• Special Quota Scholarships for marginalized

students

• Pro-active disbursement of scholarships

THE PUNJAB EDUCATIONAL ENDOWMENT FUND Investing in Future

Scholarship Award Process

Data from BISE’s

Short listing

(District, Tehsil & Stream wise)

Dispatch & Receipt Application forms Double Data Entry & Variance report Final Merit Preparation Soft and Hard Verification by Monitoring section Disbursement vide E-Payments Intimation letters to successful students Data of Students

• n Web

THE PUNJAB EDUCATIONAL ENDOWMENT FUND Investing in Future

MASTER LEVEL SCHOLARSHIPS

Investing in Future THE PUNJAB EDUCATIONAL ENDOWMENT FUND

Scholarship Allocation

 University / Institution wise Allocation

• Previous Years’ Total Enrollment at Masters Level degree

programs  Subject wise Allocation

• 70% of the scholarships allocated for science subjects
• 30% of the scholarships allocated for arts subjects

 Category wise Allocation

• Outreach Scholarships (80% of the total number)
• Special Quota Scholarships (20% of the total number)

 Gender wise Allocation The scholarships quota may preferably be distributed equally amongst boys and girls

Investing in Future THE PUNJAB EDUCATIONAL ENDOWMENT FUND

Scholarship Award Process

Renewal of Scholarship Quota by PEEF Advertisement

• f PEEF

Scholarships by Universities Receipt of Application forms Data entry and Short listing of students by Universities Interviews of Shortlisted students Final recommendations by Scholarship Award Committee Nominations & Minutes of Meeting forwarded to PEEF Disbursement vide E- Payments Data of Students on Web (PEEF & Universities)

Investing in Future THE PUNJAB EDUCATIONAL ENDOWMENT FUND

PEEF – DFID

SCHOLARSHIP PROGRAM

Investing in Future THE PUNJAB EDUCATIONAL ENDOWMENT FUND

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PEEF – DFID Scholarship Program

 Rs. 1,650 million over a period of 5 years  Intermediate Level Scholarships

27,500 Scholarships

Only girls students 11 districts

 Graduation Level

500 Scholarships

Seven (7) Centres of Excellence (CsOE)

THE PUNJAB EDUCATIONAL ENDOWMENT FUND Investing in Future

Scholarship Disbursement Process

Salient Features

 Bi annual stipends  Scholarship stipend through Bank of Punjab (BoP)  Scholarship Cards

Name, Parentage PEEF Scholarship Code no. Picture of scholar

 New Pin Code with release of next scholarship stipend  Real time data / status of scholarship withdrawal through BOP

E- Scholarship Payments

THE PUNJAB EDUCATIONAL ENDOWMENT FUND Investing in Future

E – Scholarship Card

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Scholarship Updates

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Year

• No. of Scholarships

Awarded Active Scholarships Scholarship Disbursements (Rs. Millions) 2008 – 09 5,326

• 22

2009 – 10 5,484 85 250 2010 – 11 6,982 994 362 2011 – 12 13,344 2,159 707 2012 – 13 9,952 9,952 750 2013-14 (PEEF + DFID) 19,609 19,609 962 2014-15 (PEEF + DFID) 19,721 19,721 1,200 Total 80,418 52,520 4,253

*For the year (2015-16), the annual scholarships allocation is 20,000. With the inclusion of current year scholarships, by Dec. 2015, the total number of beneficiaries will reach 100,000.

Nurturing Human Capital…

YOUTH DEVELOPMENT CENTRE

(YDC)

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Investing in Future THE PUNJAB EDUCATIONAL ENDOWMENT FUND

 Approval by the Chief Minister

 14th August 2010

 Date of Handing over of YDC to PEEF

 9th October 2010

 Initiations of Training

 15th October 2010

Nurturing Human Capital…

Investing in Future THE PUNJAB EDUCATIONAL ENDOWMENT FUND

YDC Update

4147

Scholars & Students Trained

177

Training Cohorts Conducted

Investing in Future THE PUNJAB EDUCATIONAL ENDOWMENT FUND

PEEF FINANCIALS

THE PUNJAB EDUCATIONAL ENDOWMENT FUND Investing in Future

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PEEF Financials

 The largest Educational Endowment Fund of

Pakistan - Rs. 13 B (USD 128 M)

 Estimated annual proceeds: Rs. 1 Billion

THE PUNJAB EDUCATIONAL ENDOWMENT FUND Investing in Future

TRANSPARENCY & AUDITS

THE PUNJAB EDUCATIONAL ENDOWMENT FUND Investing in Future

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Transparency & Audits

 Six - monthly Audit / Limited Review  Annual External Audit  Process Monitoring & Validation by M&E  Annual Scholarship Batch Audits  100% Internal Audit  ISO Certification  Pakistan Centre for Philanthropy (PCP) Certification

THE PUNJAB EDUCATIONAL ENDOWMENT FUND Investing in Future

Audits

Year Type of Audit Limited Reviews External Audits Scholarship Batch Audits Policy Review / Impact Assessment

2008-09 Grant Thornton Grant Thornton

• 2009-10

Grant Thornton Grant Thornton A.F. Ferguson A.F. Ferguson 2010-11 Grant Thornton Grant Thornton Ernst & Young

• 2011-12

Grant Thornton Grant Thornton Ernst & Young

(In process)

• 2012-13

Ernst & Young Ernst & Young Ernst & Young

• 2013-14

Ernst & Young Ernst & Young

Ernst & Young

(In process)

Ernst & Young

2014-15

• Ernst & Young
• THE PUNJAB EDUCATIONAL ENDOWMENT FUND

Investing in Future

Thank You

THE PUNJAB EDUCATIONAL ENDOWMENT FUND Investing in Future