The Institute of Business Administration (IBA) Karachi and the National Clearing Company of Pakistan Limited (NCCPL) signed a memorandum of understanding (MoU) to establish a fund to support the education of deserving students.

The agreement was signed by Executive Director, IBA Karachi, Dr S Akbar Zaidi, and CEO NCCPL, Muhammad Lukman. Participants included Imran Ahmed Khan, Chief Operating Officer NCCPL, and Malahat Awan, Director Alumni Communications and Resource Mobilization (ARC), IBA Karachi.

The funds will be used to set up the NCCPL Endowment Fund at IBA. The funds will provide financial assistance to the students struggling to defray their educational liabilities. NCCPL has provided PKR 3 million and plans to scale up the size of the funds in the coming months.

CEO NCCPL, Mr Muhammad Lukman praised the role of IBA in producing quality graduates for the corporate world. He said, “It’s high time that industries should be moving parallel with the education sector and I believe that these institutes will be the leading front in providing first class individuals who will play a crucial role for our economy in coming years.

He said “IBA has impressively contributed in Pakistan not only just in quality education but catering to demanding industrial requirements across research and individual talent provision. Likewise, NCCPL has always actively contributed towards community development and will continue to strive for the betterment of the local economy through such initiatives under the umbrella of corporate social responsibility.”

Executive Director, IBA Karachi, Dr Akbar Zaidi, on the occasion, said, “It is good to see NCCPL coming forward and playing their role in the development of knowledge economy. The funds will help us in our mission of imparting quality education to students irrespective of their ability to pay.”

Related: IBA Karachi sets new strategic direction at the Leadership Retreat 2022

Author

Arshad Yousafzai is a Karachi-based journalist covering Education and Human Rights. He can be reached on Twitter @Arshadyousafzay

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