ITU forms investment committee for the endowment fund
The Information Technology University (ITU) syndicate formed an investment committee for the endowment fund.
Vice Chancellor Dr. Umar Saif and chairman of the Punjab Information Technology Board (PIBT) has chaired the 5th meeting of the ITU syndicate. Dr. Umar Saif said that ITU is devising to generate income by innovative applications for the monetization of skills of students as well as the faculty. He added that under the contract signed between Information Technology University (ITU) Punjab and Infrastructure Development Authority Punjab (IDAP) on June 12, 2017, Pakistan’s first reached focused university constructed in the phase –I covering 184 acres near Lahore airport and cost about Rs 5 billion in 12 to 18 months.
Academic block, library, hostels, sports complex, and faculty apartments will be constructed in phase-1 while 4,000 students and 500 faculty members can be helped by the facilities in phase-1
In phase1 ITU Pakistan’s first focused research university will have 150 labs all according to latest technological standard. He has informed the participants of meeting about the overwhelming response to the admission process for BS Computer Science, BS Electrical Engineering, BS Management Technology, MS Computer Science, MS Electrical Engineering, MS Development Studies, Executive MBA (EMBITE), PhD Computer Science and PhD Electrical Engineering for the next session, highly encouraging Pakistan’s IT industry and for the future progress, economic stability and growth, IT solutions were obligatory.
Dr. Umar Saif informed the meeting while referring to scholarship and financial aid that generous, merit, need to be based and PEEF scholarships offered by ITU Punjab to students. The facility is availed so far by 780 students that include 75pc by 196 students, 50pc by 184 students, PEEF 219 students and 100pc scholarship plus stipend by all Ph.D. Students. He also furthered stated that the partnership for writing cases with public policy about various provincial development projects is started.
Department for International Development (DFID) foreign-funded up to UK Pound 5000,000 helps in the capacity building of existing organizations for provising evidence-based innovations in education. He said that children in the age group of 5-16 years 250,000 children (50pc girls) receive help from the programme by 2019. Chairman HEC Punjab Dr. Nizzamuddin along with others reviewed the financial and other matters of the university.