Professor Dr Wasim Qazi announced the creation of an endowment fund valued at Rs 50 million to support university initiatives. Rs 30 million of these resources will be set aside to provide financial assistance to students who are both meritorious and indigent.
The remaining Rs 20 million will be allocated to boost admissions within the faculty of art and social sciences. Monday saw a scholarship distribution ceremony take place at the Audio Visual Centre of the University of Karachi.
The Students’ Financial Aid Office organised the event alongside the University of Karachi Alumni Houston Association (UKAHA), USA. A total of Rs 2.1 million in scholarships reached 50 students during the proceedings.
UKAHA, which was founded in Houston in 2008, provided Rs 1.3 million in merit-based scholarships to 10 high-performing students from the university's business school. Work is currently progressing to set up a Business Incubation Centre at the Dr Mehmood Hussain Library.
