PEEF Financials

Punjab Educational Endowment Fund (PEEF) has been provided with an endowment fund of more than of Rupees 12.50 Billion by Government of the Punjab.

Investment of Endowment Fund

The Government of Punjab has provided Rs. 12.500 billion for the Endowment Fund of PEEF, which have been invested in Term Deposit Receipts (TDRs) with The Banks of Punjab (BoP). For 2018 - 2019 PKR. 500 million were recieved from Govt. of the Punjab through budgetary allocation for meeting the scholarshio laibilities of previous years.

Re-investment of 10% of the investment proceeds

To offset the impact of inflation , Executive Committee in its 4th meeting held on August 19, 2009 approved the reinvestment of 10% of annual endowment-income. Thereafter, Rs. 980 million through to Deceember 2019 has been re-invested to the Endowment Fund.

Internal Audit

100% internal audit is carried out by the Internal Audit Section to monitor the affairs of all Sections of PEEF. Internal Audit Reports are reviewed by the Audit Committee and Executive Committee and are then forwarded to the Board of Directors. Scholarship Batch Audit

Scholarship Batch Audit

Audit and Transparency
Year Limited Reviews External
Audits
Scholarship Batch Audits Policy Review/ Impact Assessment
2008-2009 Grand Thornton Grand Thornton - -
2009-2010 Grand Thornton Grand Thornton A.F.Ferguson A.F.Ferguson
2010-2011 Grand Thornton Grand Thornton Ernst&Young -
2011-2012 Grand Thornton Grand Thornton Ernst&Young
(In Process)
-
2012-2013 Ernst&Young Ernst&Young Ernst&Young -
2013-2014 Ernst&Young Ernst&Young Ernst&Young
(In Process)
Ernst&Young
2014-2015 - Ernst & Young - -