The Punjab Educational Endowment Fund (PEEF) is an initiative of the Government of Punjab under the leadership of Chief Minister, Mr. Muhammad Shahbaz Sharif. In order to make it more efficient, transparent and autonomous in its functioning; PEEF is registered under section 42 of the Companies Ordinance, 1984. The Punjab Educational Endowment Fund (PEEF) was initially established with seed money of Rs.2 billion , which has now been raised to Rs. 9 billion. The Govt. of Punjab has allocated another Rs. 2 billion for the FY 2013-14.
Only the investment proceeds out of this fund are utilized for the award of scholarships. The Punjab Educational Endowment Fund is established with the objective of providing scholarships/monetary assistance to talented and needy students for pursuing quality education with equal opportunities. PEEF endeavors to bring best educational opportunities to the less privileged and talented youth of Punjab, and bring them at par with the most fortunate ones PEEF is a proactive scholarship scheme which provides funds at the doorstep of the talented and deserving students.
Allocation of these scholarships is on the basis of Tehsils and District wise results of students. More focus of these scholarships is towards the sixteen (16) less developed districts, especially from southern Punjab. Special quotas for orphans, children of BS1-4 govt. employees, disabled, minorities and widows have also been allocated. Bright and needy students of other provinces AJK, FATA, Gilgit Baltistan & Islamabad Capital Territory have also been provided opportunities for higher education through this program. PEEF so far has awarded more than 41000 scholarships.