The opportunities. It brings the best educational

The Punjab Educational Endowment Fund (PEEF)
is a Non-Profit organization developed under the administration of Chief
Minister, Mr. Muhammad Shahbaz Sharif. PEEF is registered under the section 42
of the Companies Ordinance, 1984.

PEEF was started with the capital of Rs.2
billion, which has now been raised to Rs. 16 billion. The Govt. of Punjab has
added more Rs. 4 billion for the FY 2016-17. Only the investment carried out of
this fund are used for providing scholarships only.

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PEEF is developed with the initiative of
providing scholarships and monetary support to the talented and deserving
students for continuing quality education with equal opportunities. It brings
the best educational opportunities to the less privileged and capable youth of
Punjab, and bring them at par with the most fortunate ones

PEEF uses a proactive approach which gives
funds at the doorstep of the capable and talented students who are coming on
the merit. Assignment of that funds is based on Tehsils and District level with
result wise for students. More concentration of these funds is towards the
sixteen (16) less created areas, particularly from southern Punjab. Special
quotas for the orphan children, children of govt. representatives BPS1-4,
debilitated, minorities and dowagers have additionally been assigned. The PEEF
is additionally giving an oppertunity to advanced education to the capable and
poor students of different territories AJK, FATA, Gilgit Baldistan and
Islamabad Capital Territory through this program. Since the initiation of its
working starts in 2009: the PEEF so far has granted more than 150,000 scholarships
which has worth more than Rupees 7.5 Billion with the Inclusion of current
years (2016 – 17) grants: the aggregate number of scholarships will achieve 200,000
(approx) worth more than rupees 11.4 billion.

Location:

Office Address:                                  Wahdat Road? Lahore 54600

                                                      Tel:   (92)
423 99260051 – 54

                                                          
   Fax: 
(92) 423 99260055

                                                              Email:  [email protected]

 

 

 

Vision:

 

Creation of a pool of
talented Pakistani youth; contributing towards economic and social development,
to realize the dream of a moderate, progressive and prosperous nation

 

Mission:

 

Building a critical mass of
human capital, participating in nation building; through provision of equitable
opportunities to less privileged but academically brilliant girls and boys in
Punjab.

 

 

 Core Values:

 

·        
Honesty

·        
Integrity

·        
Accountability

·        
Professionalism

·        
Focused
service

 

 

 

 

 

 

 

 

 

 

Introduction of Departments:

Accounts Department:

 

Accounting
department is a part of a PEEF administration that is responsible for preparing
the financial statements, maintaining the general ledger, paying bills, billing
customers, payroll, cost accounting, financial analysis, and more. The
accounting department is responsible for recording and reporting the cash flow
transactions of a company. Recording cash receipts, cash disbursements,
processing payroll, and preparing important financial reports.

 

HR Department:

 

A
human resources department is a critical component of employee well-being in any
business, no matter how small. HR responsibilities include payroll, benefits,
hiring, firing, and keeping up to date with state and federal tax laws.

IT Department:                                                                                   

 

The
Information Technology Department serves other City departments through a
series of services that includes integrating computer systems, coordinating and
providing training, negotiating and managing information technology related
contracts, and technology assistance and support.

Internal Audit Department:

 

The role of internal audit is to provide independent assurance that an
organization’s risk management, governance and internal control processes are operating effectively.
Organizations establish an independent internal
audit function to provide continuous review of the effectiveness of risk
management, control, and governance processes. Internal audit does this by: Providing independent, unbiased
assessment of the operations of the organization.

 

 

Organizational hierarchy Chart:

 

 

§  Chief Minister, Punjab / Chairman (PEEF)

Mr. Muhammad
Shahbaz Sharif

 

§  Vice Chairman (PEEF)

Dr. Muhammad Amjad
Saqib

 

§  Minister
of State for Education, Trainings and Standards in Higher Education

Mr. Muhammad Baligh-ur-Rehman

 

§  Chief
Operating Officer Punjab Health Care Commission

Dr. Muhammad Ajmal Khan

§  Former
Judge / Senior Advocate, Supreme Court of Pakistan

Justice (R) Aamer Raza Khan

 

§ 
Chairman PITB

Dr. Umar Saif,

§  Minister
of 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  total number of
scholarships)

§  Special Quota Scholarships                                         (20% of  total number of scholarships)

 

 

1.3       
SCHOLARSHIP
ALLOCATION:

1.3.1       
Scholarship
Levels:

PEEF scholarships are awarded for the following four
(4) levels of education. The level wise allocation of scholarship is given
below:

§ 
Secondary
                              20%

§ 
Intermediate
                           30%

§ 
Graduation
                             30%

§ 
Masters’
                                 20%

 

1.3.2       
Type
of Institutions:

PEEF
has allocated scholarships for both Public & Private sector educational
institutions. The sector wise allocation of scholarships is as follows:

–         
Public Sector/Government Educational
Institutions              90%

–         
Private Affiliated Institutions                                                 10%

 

1.3.3       
Geographic
Allocation:

The district category wise
allocation 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 developed
districts.

1.3.4       
Scholarship
Quotas:

 

–         
Besides awarding scholarships to
students of Punjab; scholarship quotas have been allocated for the students of
other provinces, Azad Jammu &Kashmir, FATA, Gilgit Baltistan and Islamabad
Capital Territory (ICT).

–         
In addition, PEEF has also earmarked
scholarship for students of Punjab studying in the top ranked institutions of
Pakistan (Centre of Excellence – COEs)

–         
468 scholarships are also earmarked for
pass outs of Punjab Board of Technical Education (PBTE).

 

·       
PEEF – DFID
SCHOLARSHIP PROGRAMME

Punjab Educational Endowment Fund (PEEF) and Department for
International Development (DFID) – UK Aid have signed Memorandum of
Understanding (MOU) to provide 28000 scholarships to meritorious and needy
students for Intermediate and Graduation Level Education.

Under the proposed five year scholarship program Department for
International 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. Out
of the total allocated scholarships, 27,500 will be awarded to girl’s students
of eleven (11) less developed districts of Punjab to continue Intermediate
Level Education while 500 scholarships will be awarded to the needy and
meritorious students to peruse Graduation Level Education through partner
Centre of Excellences (COEs).

·       
Youth Development Centre – MURREE

To benefit high achievers, (PEEF
scholars) in developing inter personal and capacity building skills through
different trainings, PEEF initiated its training programs from Youth Development
Center (YDC) in October 2010. Designed goal and objectives of the program are
as under:

Goals:

To transfer the knowledge and skills to youth at different
geographic ‘levels’ and most importantly to improve their communication and
presentation skills’ effectiveness whereby they can act as leaders / role
models for students at the very grass root level.

Keeping
in view this goal, certain objectives are set for Youth Development Center and
these are as under:-

·        
To inculcate the leadership
qualities and to amplify the personality of PEEF scholarship holders.

·        
A batch of selected finalists would
be groomed and trained for verbal communication skills.

·        
A batch of selected finalists would
be groomed and trained in written communication skills.

·        
Top position holders will be
selected from all over Punjab and they will be trained in professional skills
in order to equip them with communication skills, personality development,
leadership qualities, dining etiquettes etc. so that they can present
themselves as ambassadors of Pakistan, when they go abroad to visit different
educational institutions.

·        
Selected position holders from each
province would be given capacity building training.

·        
The Provincial Youth Council (PYC)
members would develop capacities in comprehending the government procedures and
systems coupled with good governance and leadership training.

·        
Teachers would be selected from all
the districts as PEEF district focal persons. They would be trained to conduct
trainings and development of PEEF scholars. These trainers will act as mentors
for the PEEF scholars. Through this program the PEEF scholars would be able to
get the guidance and mentoring in their home district instead of travelling to
the other places.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Detailed
description of the activities performed at Finance Department:

 

The main operations of PEEF Finance department are:

·        
Money out – making
payments and keeping the bills paid

·        
Money in – processing
incoming payments

·        
Payroll – make sure
everyone gets paid (including the government tax authorities)

·        
Reporting – preparing
financial reports, e.g. P&L, Balance sheets and budgets

·        
Financial Controls – to avoid errors,
fraud and theft

Accounting
Department Responsibilities in Detail:

Reporting and Financial Statements – The primary reason you collect data properly in your accounting
software is to prepare financial reports that can be used for budgeting,
forecasting and other decision making processes. In addition, these and other
reports are needed for communication to investors, banks and other
professionals that play a role in the growth of your business.

Accounts Payable (money out) – In order
to maintain great relationships with Scholarship holder & vendor 
making sure that everyone gets paid on time is a vital role. The role of the
accounting department includes keeping an eye on opportunities to save money
for example, determining if there are discounts or incentives available for
paying certain vendors more quickly.  At the very least, AP should be
scheduled 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 account
for and track receivables, including outstanding invoices and any required
collection actions. Accounts receivable is responsible for creating and
tracking invoices.  The responsibility here includes assuring that
customers pay those invoices on time, so a system of friendly reminders is crucial.

Payroll – Payroll is a
critical function of the accounting department and includes making sure all
employees are paid accurately and timely. In addition, proper tax is assessed
and tax payments are on time with state and federal government agencies.

Financial Controls – Financial controls include reconciliations, dividing the
responsibilities and following the GAAP standards of accounting principles, all
of which are implemented with view toward compliance, fraud and theft
prevention.  The role of the Controller is to ensure procedures are set up properly to manage
that process without errors.

 

 

 

Analysis

 

SWOT ANALYSIS:

 

 

 

SWOT
analysis involves identifying of business’s strengths and weaknesses, and
examining the opportunities and threats which may affect the company. The
following SWOT analysis highlights PEEF (Punjab Educational Endowment Fund)
strengths, weaknesses, opportunities and threats.

 

 

 

 

 

 

 

Strengths:

The strengths portion of the SWOT
analysis is used to find out that what business does best. If we know
business’s strengths we can place emphasis on them when the time comes to implement
our marketing program.

Here is some strengths of PEEF’s:

Providing
Education

PEEF provides the educational
opportunities to brilliant and needy students through a handsome amount of
scholarship to all over the Punjab province from District level to Tehsils
wise. This helps the poor and needy students to manage their educational
expenses.

Alumni Network

PEEF has an Alumni Network of past students
like we see in educational institutes. These scholars serve like Brand
Ambassadors as they enhancing the image of PEEF as an organization playing its
role in national building by providing scholarships to needy and intelligent
students of the country irrespective of their different socio-economic back
ground. They can be seen as an example (PEEF Scholars) by the existing and
prospective students.

Weakness:

 

All the matters and parameters according to
which a corporate struggles and lacks is basically considered the weakness of
the company.

 

Lack of management and planning:

As PEEF is an
organization but in the organization same hierarchy level not being followed in
every department which in result can cause poor decision making and bad result
while working as a team on a project and this way leadership fails too.

A lot of paper work

As PEEF is a
platform providing scholarships, so there is a lot of paper work in an
organization and everything is on paper which in result causes sometimes
paperwork error and also while making record keeping important data can be lost
too due to a lot of paper work.

Opportunities:

Opportunities are basically those scenarios
whereby any corporate can grow and succeed

with a new or existing product.

Platform:

It create large
number of Scholarship for talented and needy Student. It opens the door for a
bright, prosperous future for its scholars after completing their respective
degrees.  It further leads to the
following impact:

–         
Poverty allocation

–         
Nation Building

 Excellence
resource Network:

Peef has an excellent resource network in
which Board and HEC provide the Data of candidates annually/semi annualy and
PEEF reach the students through that data and provide them the scholarships
under their merit criteria

Easy to access the Education:

As it provides the student to avail the education
with a handsome stipend at every level semiannually. It helps the student to
access the education and manage their monthly expenses as well.

 

Threats:

The challenges, facing any business after
implementation of a marketing program are perhaps the most important factors of
a SWOT analysis. By knowing the challenges we can face helps our business to
make informed and strategically handling regarding the products.

 

Political Instability:

As it’s an NGO and
gained an international reputation to its program and they receive the funds
from foreign and their own country. Due to any political instability, they are
not fully accepted by the government at some point bound to follow the policies
and implementations impose on them which can be biased or non-biased.

Change of Government:

As PEEF is an
initiative of the Government of Punjab under the leadership of Chief Minister, Mr.
Muhammad Shahbaz Sharif. As after the election if the government loses in an
election. It has a chance to be closed or taken over by the other government
and change the policies and regulations.

Pest Analysis:

 

 

 

 

 

 

Political
Factors

Economic
Factors

Social
Factors

Technological
Factors

 

 

 

 

Political Factors

Political
factors are basically how the government intervenes in the economy.

The
government is actually implementing its political agenda to contribute towards
the Non-Profit project like PEEF because their ultimate goal is to achieve the
adequate development of Human Resource through these programs. Their main focus
for current term is to fund programs like PEEF.

 

Economic Factors

Economic
factors include economic growth, interest rates, exchange rates, and the
inflation rate. These factors greatly affect how businesses operate and make
decisions.

As we all
know Pakistan is on its way to become emerging economy along with massive
development projects like CPEC. There is a need to equip the general tier
population with adequate skills to compete with the changing demands of the job
market.

 

Socio-Cultural Factors

Social
factors include the cultural aspects and health consciousness, population
growth rate, age distribution, career attitudes and emphasis on safety. High
trends in social factors affect the demand for a company’s products and how
that company operates.

In terms of
PEEF it is an enormous step for the government. For decade education sector has
been neglected. The government has finally realized the importance of
development of human capital in relation to need of social economic development
for the society. In order to enhance the social development, it is the need of
the hour to develop human capital.

 

Technological Factors

Technological
factors include technological aspects like R activity, automation,
technology incentives and the rate of technological change. These can determine
barriers to entry, minimum efficient production level and influence the
outsourcing decisions.

In order to make a shit to a more technologically advanced society, the
government is funding basic technical institutes and computer science education
to inculcate culture of innovation and entrepreneurship in the country