LAHORE: The Punjab Education Foundation (PEF) held its 53rd meeting of the finance committee on Friday under the leadership of Dr. Azam Chaudhary, a member of the organisation’s board of directors.
The meeting was held at PEF’s head office in Lahore, and Manzar Javed Ali, the managing director of PEF, acted as the committee’s member/secretary.
The committee discussed several key financial matters during the meeting, including the Endowment Fund report, budget utilisation, variance analysis report, and budget estimates.
Dr. Basit Khan, a technocrat and PEF board member; Hassan Farooq, a representative of the secretary to government of the Punjab, Planning and Development Department; and Qurat ul-Ain, a representative of the secretary to government of Punjab, Finance Department, also attended the meeting.
The committee expressed satisfaction with the management of the Endowment Fund and the efficient use of resources during the period. The variance analysis report for the first, second, and third quarter of FY-2022-23 was also discussed, with the committee members analysing the report and discussing the reasons for the variances.
The budget estimates for the FY-2023-24 were thoroughly analysed and discussed, and the committee members provided valuable feedback and suggestions before finalising the estimates.
Dr. Chaudhary expressed his satisfaction with the meeting’s outcome and appreciated the efforts of the committee members, Ali, and his team in providing valuable input on the Foundation’s financial matters.
Other PEF officials, including Deputy Managing Directors, Directors, and Additional Directors, also attended the meeting.
Overall, the meeting was productive and successful in addressing the key financial issues of the foundation. The committee members expressed their commitment to ensuring the foundation’s financial stability and efficient use of resources.
