ThePunjab Educational Endowment Fund (PEEF) has been made under the supervision ofChief Minister, Mr. Muhammad Shahbaz Sharif.
It is enrolled under area 42 of theCompanies Ordinance, 1984. Theybegan its operation with the capital of Rs.2 billion and now it has been raisedto Rs. 16 billion.
Rs. 4 billion more for the FY 2016-17 has been included bythe Gov. of Punjab. These assets can be utilized for giving the grants as itwere.
PEEFis created with the mission of giving the grants and money related help to thecompetent and meriting understudies for continue running the qualityinstruction with meet open doors. It conveys great instructive chances to theless advantaged and skilled youth of Punjab, and carry them at standard withthe most fortunate ones Theyutilize a decent approach which is proactive approach, in which reserves aregiven at the doorstep of the proficient and meriting understudies. The grantsare granted Tehsils and District astute outcomes. Another concentration ofthese grants is additionally towards the sixteen (16) less special regions,particularly from southern Punjab. They have an uncommon amounts for vagrantsand govt. workers of BPS 1 to 4 children’s, impaired, minorities and widowshave likewise been distributed.
The PEEF is moreover offering opportunity tocutting edge training to the skilled and poor understudy of various zones AJK,FATA, Gilgit Baldistan and Islamabad Capital Territory through its program. Asthey began their operations in 2009: they have so far given more than 150,000grants and these grants are having a value of more than Rupees 7.5 Billion withthe expansion of current years (2016 – 17) allows: the aggregate number ofdistinctions will accomplish 200,000 (approx) worth more than rupees 11.4billion. Location:Office Address: Wahdat Road? Lahore 54600 Tel: (92)423 99260051 – 54 Fax: (92) 423 99260055 Email: [email protected].
pk Vision: Creation of a pool oftalented Pakistani youth; contributing towards economic and social development,to realize the dream of a moderate, progressive and prosperous nation Mission: Building a critical mass ofhuman capital, participating in nation building; through provision of equitableopportunities to less privileged but academically brilliant girls and boys inPunjab. Core Values: · Honesty· Integrity· Accountability· Professionalism· Focusedservice Introduction of Departments:Accounts Department: Accountingdepartment is a part of a PEEF administration that is responsible for preparingthe financial statements, maintaining the general ledger, paying bills, billingcustomers, payroll, cost accounting, financial analysis, and more. Theaccounting department is responsible for recording and reporting the cash flowtransactions of a company.
Recording cash receipts, cash disbursements,processing payroll, and preparing important financial reports. HR Department: Ahuman resources department is a critical component of employee well-being in anybusiness, no matter how small. HR responsibilities include payroll, benefits,hiring, firing, and keeping up to date with state and federal tax laws.IT Department: TheInformation Technology Department serves other City departments through aseries of services that includes integrating computer systems, coordinating andproviding training, negotiating and managing information technology relatedcontracts, and technology assistance and support.
Internal Audit Department: The role of internal audit is to provide independent assurance that anorganization’s risk management, governance and internal control processes are operating effectively.Organizations establish an independent internalaudit function to provide continuous review of the effectiveness of riskmanagement, control, and governance processes. Internal audit does this by: Providing independent, unbiasedassessment of the operations of the organization. Organizational hierarchy Chart: § Chief Minister, Punjab / Chairman (PEEF)Mr. MuhammadShahbaz Sharif § Vice Chairman (PEEF)Dr. Muhammad AmjadSaqib § Ministerof State for Education, Trainings and Standards in Higher EducationMr. Muhammad Baligh-ur-Rehman § ChiefOperating Officer Punjab Health Care CommissionDr.
Muhammad Ajmal Khan§ FormerJudge / Senior Advocate, Supreme Court of PakistanJustice (R) Aamer Raza Khan § Chairman PITBDr. Umar Saif,§ Ministerof State for Information Technology Ms. Anusha Rehman Khan Products: · Scholarships:1.2 SCHOLARSHIP CATEGORIES:The Punjab Educational Endowment Fund (PEEF)scholarships have been classified into two major categories:§ Outreach Scholarships (80% of the total number of scholarships)§ Special Quota Scholarships (20% of the total number of scholarships) 1.3 SCHOLARSHIPALLOCATION:1.3.1 ScholarshipLevels:PEEF scholarships are awarded for the following four(4) levels of education.
The level wise allocation of scholarship is givenbelow: § Secondary 20%§ Intermediate 30%§ Graduation 30%§ Masters’ 20% 1.3.2 Typeof Institutions: PEEFhas allocated scholarships for both Public & Private sector educationalinstitutions. The sector wise allocation of scholarships is as follows: – Public Sector/Government EducationalInstitutions 90%- Private Affiliated Institutions 10% 1.3.3 GeographicAllocation: The district category wiseallocation of scholarships is given below: District Category Number of Districts % of Scholarships Allocated Less Developed Districts (LDD) 16 50% Developed Districts (DD) 20 50% Total 36 100% By virtue of this categorization,less developed districts of Punjab are awarded more scholarships than developeddistricts. 1.
3.4 ScholarshipQuotas: – Besides awarding scholarships tostudents of Punjab; scholarship quotas have been allocated for the students ofother provinces, Azad Jammu , FATA, Gilgit Baltistan and IslamabadCapital Territory (ICT). – In addition, PEEF has also earmarkedscholarship for students of Punjab studying in the top ranked institutions ofPakistan (Centre of Excellence – COEs)- 468 scholarships are also earmarked forpass outs of Punjab Board of Technical Education (PBTE).
· PEEF – DFIDSCHOLARSHIP PROGRAMMEPunjab Educational Endowment Fund (PEEF) and Department forInternational Development (DFID) – UK Aid have signed Memorandum ofUnderstanding (MOU) to provide 28000 scholarships to meritorious and needystudents for Intermediate and Graduation Level Education.Under the proposed five year scholarship program Department forInternational Development (DFID) – UK aid has agreed to provide grant of PKR.1.625 billion Over a period of five years to provide 28,000 scholarships. Outof the total allocated scholarships, 27,500 will be awarded to girl’s studentsof eleven (11) less developed districts of Punjab to continue IntermediateLevel Education while 500 scholarships will be awarded to the needy andmeritorious students to peruse Graduation Level Education through partnerCentre of Excellences (COEs).
· Youth Development Centre – MURREETo benefit high achievers, (PEEFscholars) in developing inter personal and capacity building skills throughdifferent trainings, PEEF initiated its training programs from Youth DevelopmentCenter (YDC) in October 2010. Designed goal and objectives of the program areas under:Goals:To transfer the knowledge and skills to youth at differentgeographic ‘levels’ and most importantly to improve their communication andpresentation skills’ effectiveness whereby they can act as leaders / rolemodels for students at the very grass root level.Keepingin view this goal, certain objectives are set for Youth Development Center andthese are as under:-· To inculcate the leadershipqualities and to amplify the personality of PEEF scholarship holders.· A batch of selected finalists wouldbe groomed and trained for verbal communication skills.
· A batch of selected finalists wouldbe groomed and trained in written communication skills.· Top position holders will beselected from all over Punjab and they will be trained in professional skillsin order to equip them with communication skills, personality development,leadership qualities, dining etiquettes etc. so that they can presentthemselves as ambassadors of Pakistan, when they go abroad to visit differenteducational institutions.· Selected position holders from eachprovince would be given capacity building training.
· The Provincial Youth Council (PYC)members would develop capacities in comprehending the government procedures andsystems coupled with good governance and leadership training.· Teachers would be selected from allthe districts as PEEF district focal persons. They would be trained to conducttrainings and development of PEEF scholars.
These trainers will act as mentorsfor the PEEF scholars. Through this program the PEEF scholars would be able toget the guidance and mentoring in their home district instead of travelling tothe other places. Detaileddescription of the activities performed at Finance Department: The main operations of PEEF Finance department are:· Money out – makingpayments and keeping the bills paid· Money in – processingincoming payments· Payroll – make sureeveryone gets paid (including the government tax authorities)· Reporting – preparingfinancial reports, e.g. P, Balance sheets and budgets· Financial Controls – to avoid errors,fraud and theftAccountingDepartment Responsibilities in Detail:Reporting and Financial Statements – The primary reason you collect data properly in your accountingsoftware is to prepare financial reports that can be used for budgeting,forecasting and other decision making processes. In addition, these and otherreports are needed for communication to investors, banks and otherprofessionals that play a role in the growth of your business.Accounts Payable (money out) – In orderto maintain great relationships with Scholarship holder & vendor making sure that everyone gets paid on time is a vital role.
The role of theaccounting department includes keeping an eye on opportunities to save moneyfor example, determining if there are discounts or incentives available forpaying certain vendors more quickly. At the very least, AP should bescheduled to assure that the least amount of money has to go out per payment,i.e., no late payment charges!Accounts Receivable and Revenue Tracking(money in) – Another critical duty of the accounting department is to accountfor and track receivables, including outstanding invoices and any requiredcollection actions.
Accounts receivable is responsible for creating andtracking invoices. The responsibility here includes assuring thatcustomers pay those invoices on time, so a system of friendly reminders is crucial.Payroll – Payroll is acritical function of the accounting department and includes making sure allemployees are paid accurately and timely. In addition, proper tax is assessedand tax payments are on time with state and federal government agencies.Financial Controls – Financial controls include reconciliations, dividing theresponsibilities and following the GAAP standards of accounting principles, allof which are implemented with view toward compliance, fraud and theftprevention. The role of the Controller is to ensure procedures are set up properly to managethat process without errors. Analysis SWOT ANALYSIS: SWOTanalysis involves identifying of business’s strengths and weaknesses, andexamining the opportunities and threats which may affect the company. Thefollowing SWOT analysis highlights PEEF (Punjab Educational Endowment Fund)strengths, weaknesses, opportunities and threats.
Strengths:The strengths portion of the SWOTanalysis is used to find out that what business does best. If we knowbusiness’s strengths we can place emphasis on them when the time comes to implementour marketing program.Here is some strengths of PEEF’s:ProvidingEducationPEEF provides the educationalopportunities to brilliant and needy students through a handsome amount ofscholarship to all over the Punjab province from District level to Tehsilswise.
This helps the poor and needy students to manage their educationalexpenses.Alumni NetworkPEEF has an Alumni Network of past studentslike we see in educational institutes. These scholars serve like BrandAmbassadors as they enhancing the image of PEEF as an organization playing itsrole in national building by providing scholarships to needy and intelligentstudents of the country irrespective of their different socio-economic background.
They can be seen as an example (PEEF Scholars) by the existing andprospective students.Weakness: All the matters and parameters according towhich a corporate struggles and lacks is basically considered the weakness ofthe company. Lack of management and planning:As PEEF is anorganization but in the organization same hierarchy level not being followed inevery department which in result can cause poor decision making and bad resultwhile working as a team on a project and this way leadership fails too.A lot of paper workAs PEEF is aplatform providing scholarships, so there is a lot of paper work in anorganization and everything is on paper which in result causes sometimespaperwork error and also while making record keeping important data can be losttoo due to a lot of paper work.Opportunities:Opportunities are basically those scenarioswhereby any corporate can grow and succeedwith a new or existing product.
Platform:It create largenumber of Scholarship for talented and needy Student. It opens the door for abright, prosperous future for its scholars after completing their respectivedegrees. It further leads to thefollowing impact:- Poverty allocation- Nation Building Excellenceresource Network:Peef has an excellent resource network inwhich Board and HEC provide the Data of candidates annually/semi annualy andPEEF reach the students through that data and provide them the scholarshipsunder their merit criteriaEasy to access the Education:As it provides the student to avail the educationwith a handsome stipend at every level semiannually. It helps the student toaccess the education and manage their monthly expenses as well. Threats:The challenges, facing any business afterimplementation of a marketing program are perhaps the most important factors ofa SWOT analysis. By knowing the challenges we can face helps our business tomake informed and strategically handling regarding the products. Political Instability:As it’s an NGO andgained an international reputation to its program and they receive the fundsfrom foreign and their own country. Due to any political instability, they arenot fully accepted by the government at some point bound to follow the policiesand implementations impose on them which can be biased or non-biased.
Change of Government:As PEEF is aninitiative of the Government of Punjab under the leadership of Chief Minister, Mr.Muhammad Shahbaz Sharif. As after the election if the government loses in anelection.
It has a chance to be closed or taken over by the other governmentand change the policies and regulations.Pest Analysis: PoliticalFactorsEconomicFactorsSocialFactorsTechnologicalFactors Political FactorsPoliticalfactors are basically how the government intervenes in the economy.Thegovernment is actually implementing its political agenda to contribute towardsthe Non-Profit project like PEEF because their ultimate goal is to achieve theadequate development of Human Resource through these programs. Their main focusfor current term is to fund programs like PEEF.
Economic FactorsEconomicfactors include economic growth, interest rates, exchange rates, and theinflation rate. These factors greatly affect how businesses operate and makedecisions.As we allknow Pakistan is on its way to become emerging economy along with massivedevelopment projects like CPEC.
There is a need to equip the general tierpopulation with adequate skills to compete with the changing demands of the jobmarket. Socio-Cultural FactorsSocialfactors include the cultural aspects and health consciousness, populationgrowth rate, age distribution, career attitudes and emphasis on safety. Hightrends in social factors affect the demand for a company’s products and howthat company operates.In terms ofPEEF it is an enormous step for the government. For decade education sector hasbeen neglected. The government has finally realized the importance ofdevelopment of human capital in relation to need of social economic developmentfor the society.
In order to enhance the social development, it is the need ofthe hour to develop human capital. Technological FactorsTechnologicalfactors include technological aspects like R&D activity, automation,technology incentives and the rate of technological change. These can determinebarriers to entry, minimum efficient production level and influence theoutsourcing decisions.In order to make a shit to a more technologically advanced society, thegovernment is funding basic technical institutes and computer science educationto inculcate culture of innovation and entrepreneurship in the country