KU VC announces establishment of endowment fund worth Rs 50m

KARACHI, Oct 26 (APP):Vice Chancellor of the University of Karachi Professor Dr Wasim Qazi announced that he has directed the KU’s Director Finance to establish an Endowment Fund worth of Rs 50 million out of which Rs 20 million would be used to promote admissions in the faculty of art and social sciences and remaining Rs 30 million would be reserved for assisting indigent-meritorious students facing financial constraints, ensuring that no talented student is deprived of higher education due to lack of resources.

He was addressing the scholarship distribution ceremony held on Monday at KU’s Audio Visual Centre. KU’s Students’ Financial Aid Office (SFAO) organized the event in collaboration with the University of Karachi Alumni Houston Association (UKAHA), USA.

The KU Dean of Faculty of Arts and Social Sciences Professor Dr Samina Saeed, student’s advisor at Karachi University Business School (KUBS), Dr Sohaib Uz Zaman, faculty members from department of mathematics Dr Muhammad Ayaz, Karachi Chapter representative of UKAHA Feroz Iqbal and others were present during the event.

During the ceremony, the KU VC Professor Dr Wasim Qazi said that the promotion of education, investment in human resources, and collective struggle are the foundations of social development.

He informed the audience that limited financial resources do not become a permanent obstacle to success, provided that individuals keep determination, courage, hard work, and education among their priorities.

He also said that acknowledging the sacrifices and cooperation of parents, teachers, and society, and returning their due rights, is our collective responsibility. He mentioned that with this spirit of service, he chose to leave a better-paid job to serve at the University of Karachi, so that he could play his role in restoring the academic prestige, educational standards, and the illustrious traditions of the institution.

The KU VC Professor Dr Wasim Qazi urged students not to consider education merely as a means of personal or economic success, but to employ it for the betterment of society and national development.

He reaffirmed his commitment to transform KU into an effective academic and research hub, to provide quality educational opportunities to students, and to nurture independence, responsibility, and a spirit of social service among them.

KU VC Professor Dr Wasim Qazi said that KU’s curriculum would be aligned with the needs of industry, commerce, and business sectors, enabling students to gain practical experience, professional training, and connections with industrial institutions during their studies, thereby preparing them more effectively for the demands of professional life.

He further shared that efforts are underway to establish, a Business Incubation Centre to promote entrepreneurial skills and innovation among students initially at Dr Mehmood Hussain Library. Through this centre, he added students will be able to transform their business ideas into reality, plan projects, and present them to potential investors.

The KU VC Professor Dr Wasim Qazi emphasized that extracurricular activities, co-curricular opportunities, and social interactions also play a vital role in shaping students’ personalities. The purpose of education is not merely to obtain degrees, but to prepare talented, confident, and creative youth who can meet the demands of practical life, secure better employment opportunities, establish new businesses, and thus contribute effectively to economic and social development.

Earlier, the In-charge of KU’s Students’ Financial Aid Office Professor Dr ZiAsma Hanif Khan highlighted the transparent and rigorous criteria for selecting scholarship recipients. She informed that a total of Rs2.1 million in scholarships had been distributed among 50 deserving and talented students from various academic departments of KU, based on merit and financial need.

She further stated that the UKAHA, USA, had also awarded Rs1.3 million in merit-based scholarships to 10 high-performing students of KUBS. Professor Dr ZiAsma Hanif Khan said that the primary objective of providing scholarships is to help deserving and talented students overcome financial difficulties, encourage their academic performance, and ensure equal opportunities for pursuing higher education.

On this occasion, the President of UKAHA, USA, Muhammad Azam Akhtar expressed his deep association with KU and his commitment to supporting deserving students. He said that KU is not merely an educational institution, but an integral part of his life, identity, and personality.

He explained that the establishment of UKAHA in Houston in 2008 aimed to maintain ties with KU and provide financial assistance to deserving students. Addressing the scholarship recipients, he advised them to regard this support as a vote of confidence in their abilities and a beacon of hope for a bright future, urging them to pursue education with dedication and hard work, bring pride to KU and their families, and later contribute to helping others as well.