Chief Minister, Punjab, Mr. Muhammad Shahbaz Sharif said that Pakistan was still lagging behind in the education sector, despite its birth 61 years ago. He said that the best educational facilities are available to the affording and more affluent people and talented but less fortunate students are deprived of the higher educational facilities. The CM emphasized that facilities should now be extended to the public at large and no talented student should be debarred from realizing the goals of higher education for the want of funds. The Chief Minister said that PEEF has been launched with an initial seed money of Rs 2 Billion, however, this fund will be extended to Rs. 4 Billion by the end of 2009, and in the first phase, 5000 talented but less privileged students will be given scholarships from the Punjab Educational Endowment Fund (PEEF).

The Punjab Government has decided to give scholarships to at least 288 high achievers in the examinations conducted by the Punjab Board of Technical Education (PBTE ) from the Punjab Educational Endowment Fund ( PEEF ). PEEF has given a quota of 288 scholarships to technical education students. According to a breakup of scholarships, 108 scholarships would be given to high achievers in diploma of associate engineering and commerce/business admistration. The scholarships will be given to three top position holders in each course at the district level in Punjab. The Government has allocated 36 scholarships for matric tech position holders one in each district. Similarly,36 scholarships will be given to the disabled, orphan and minority students. The applicants should have at least 60 percent marks to qualify for the scholarship. Under the plan, matric tech students getting admission to FA/FSC would get Rs1,500 ( day scholars ) and Rs3,000 ( hostel residents ).The day scholars and hostel residents, who will be given Rs2,500 and Rs4,000 and those getting admission to professional degrees will get Rs3,000 and Rs4,500 per month..