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Author Topic: Islamic Bank Pledges $100m in Grant to Educational institute  (Read 506 times)

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Islamic Bank Pledges $100m in Grant to Educational institute
Lahore:July 17: THE rector of a private educational institute has said that the Islamic Development Bank has given a commitment of grant $100 million for expansion of the institute’s network in Pakistan while the Lancaster University of Britain has also issued a letter, intending to grant 3 million pounds as a soft loan for the purpose, provided the Punjab government allocated appropriate land for the expansion of its campus.
According to a handout issued here Tuesday, Rector Dr S.M. Junaid Zaidi revealed this during a briefing session under the chairmanship of Punjab Minister for Education Rana Mashhood who visited the Institute of Information and Technology’s Lahore campus.


Dr Mehmood Ahmad Bodla, Campus Director, revealed that the institute was handed over to the current administration by the martial law regime after setting aside the establishment of the Nawaz Sharif Technological College. He said 185 acres of land and the already constructed building was converted into the Lahore Campus but its proprietary rights were not transferred because the then provincial government was not ready to sell the land, owned by Workers Welfare Fund, at the proposed cost of Rs480 million. Dr Bodla also demanded a chunk of adjacent 200 acres of land for expansion of the Lahore Campus of the institute, keeping in view its remarkable achievement in the promotion of higher education in the province. Rana Mashhood ensured that he would take up the matter with Punjab Labour Minister Raja Ashfaq Sarwar and the other stakeholders, including members of the Punjab Workers Welfare Board, to reach a consensus in this regard as the chief minister also wanted an amicable solution to the issue of the institute’s expansion in Lahore.The news.
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