Pakistan Education Endowment Fund: RS 5 Billion worth Scholarship announced

Government announces PM Pakistan Education Endowment Fund Scholarship program. PKR 5 Billion is allocated in the federal Budget 2023-24 for the scholarship program. Federal Minister Ishaq Dar presented the federal budget on June 09, 2023. In this budget, RS 80 Billion are earmarked for the progress of youth including 5 billion rupees worth of scholarship programs for talented but needy students.

Prime Minister Shehbaz Sharif also approved the establishment of the Pakistan Endowment Fund for Education on the pattern of the Punjab Endowment Fund. Under the Fund, intelligent but poor students from across the country will be awarded scholarships to continue their studies. The aim of establishing this fund is that no talented student is deprived of higher education due to a lack of resources. PKR: 10 billion worth of funds have been allocated for Prime Minister Youth Program to extend small loans to the youth.

The government has also specified funds to impart skill training to the youth, including in information technology. The upcoming budget would also have funds for the distribution of 100,000 laptops among the youth besides extending financial support to IT startups.