GC University Endowment Fund Trust (GCUEFT)
ABOUT ENDOWMENT FUND TRUST (EFT)
A A university is as good as its resources. As an autonomous institution, GCU has to generate its own resources to carry on the quality of education, research work and other services. The demand for resources increased, since Government College Lahore became a University in 2002. It is a fact that a large number of students, studying here belong to marginalised families hence unable to pay their academic expenses. So, funds are needed to help them for their academic expenses. Similarly, to build new campus at Kala Shah Kaku and preserve buildings of historic value at the old campus. Universities all over the world seek financial support from philanthropists and their alumni to acquire a strong resource based. GCU too, look up to its students, past and present, to help in building up the Endowment Fund.
The basic principle of any endowment fund is that the donated amount is never spent. Only the income earned on its investments is used. it encourages donors to transfer their funds to public purposes, with the assurance that their donations will be used for the noble and constructive cause, I. e., spread of education.
Mr. Khawar Masud Butt (English Biscuits), Mr. Ijaz ur Rehman Durani, Dr. Farouq Ahmed, Prof. Muhammad Iqbal, Mian Asad Bashir, Dr. Musaddiq Asif, Dr. Zahir Ahmad Siddiqi (Late), Mr. Javed Habib Oberoi and Mr & Mrs. lqtidar Ahmed, Mr. Sheraz Bashir, Mr. Muhammd Amin ul Qadri, Mr. Saeed Ahmad Buksh are prominent donors during year 2018-2019.
It is hearting to mention that various permanent scholarships have been initiated by the Trust with the financial support of such donors. The deserving and needy students of GCU who also have good academic record can apply for these scholarships at the beginning of academic year. After scrutiny of documents and interviews of the applicants, these scholarships are granted for one year. If the beneficiary student performs good in academics, the scholarship is renewed for next year also. It is pertinent to mention that ‘Golden Scholarship’ covers university fee and hostel expenses (approximately Rs. 80,000) of the selected student, however ‘Silver Scholarship’ takes off the burden of university fee (Rs. 40,000). Name of every donor with his/her donation is recorded and shown on the ‘donor’s scroll, on the website of the Trust. Donation of any amount to the trust is welcomed, however for ‘Golden Scholarship’ and ‘Silver Scholarship’ a donor has to give rupees one Million (Rs. 1,000,000) and rupees Five Hundred Thousand (500,000) respectively. These permanent scholarships are initiated after the names of donors and awarded every year. In 2019, the trust gave financial aid sum of Rs. 14.883 million to 583 deserving students amounting from Rs. 16,000 to Rs. 70,000.
The office of the trust is situated in the campus and Vice Chancellor is its ex-officio Chairman. Eminent businessman and Old Ravian Mr. Iqbal Z. Ahmed is President and Prof. Dr. Khalid Manzoor Butt, Dean, Faculty of Arts and Social Sciences GCU, Chairman, department of Political Science GCU is Secretary of Executive Committee of the trust. However, Mian Misbah Ur Rehman (Philanthropist, eminent businessman and Former President LCCI), Dr. Parvez Hassan (distinguished lawyer & environmentalist), Mian Muhammad Ashraf (noted industrialist), Mr. Javed Habib Oberoi (prominent businessman), Dr. Safdar Ali Malik (Famous radiologist) and Kazi Afaq Hossain (Ex. Federal Secretary) are members of the Executive Committee.
Zakat & charity is admissible for the trust.