UHE Launches Rs165M Endowment Fund
In a significant move, the Finance and Planning Committee at the University of Home Economics (UHE) in Lahore approved the establishment of a substantial endowment fund totaling Rs. 165 million. This decision, made during the committee’s 15th meeting chaired by Vice Chancellor Prof Dr. Faleeha Zahra Kazmi, aims to support student scholarships, research endeavors, and the welfare of university faculty and staff.
Alongside approving the fund, the committee also greenlit the structure for a six-member Board of Management to oversee its operations for a three-year term. Emphasizing the fund’s sanctity, the Vice-Chancellor highlighted that the principal amount would only be utilized under special circumstances with approval from the syndicate.
Income generated from the fund, after covering operational expenses, will be channeled to promote its objectives. Notably, 40 percent of the generated income will be reinvested, with 20 percent allocated to student scholarships and 40 percent dedicated to research, academics, and employee welfare.
Dr. Faleeha Zahra Kazmi highlighted contributions from various sources, including government aid and donations, bolstering the endowment fund. This move marks a historic milestone for the university, ensuring the security and well-being of its faculty and staff.
During the meeting, it was revealed that the initial target set by the syndicate was Rs. 65 million, but after careful budgetary review, the decision was made to establish a more substantial fund at Rs. 165 million. The meeting was attended by members from HEC, UHE Syndicate, and representatives from finance, higher education, and Punjab HEC.