ITU SYNDICATE FORMS INVESTMENT COMMITTEE FOR ENDOWEMENT FUND


ITU SYNDICATE FORMS INVESTMENT COMMITTEE FOR ENDOWEMENT FUND
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July 25, 2017

The Information Technology University (ITU) Punjab is devising programs to generate income through innovative applications to monetize the skills of faculty and the students. Dr. Umar Saif founding Vice Chancellor ITU said while chairing the 5th meeting of the syndicate here today.

Dr. Umar Saif informed that under the contract signed on June 12, 2017 between Information Technology University (ITU) Punjab and Infrastructure Development Authority Punjab (IDAP) to construct State of the Art purpose built main Campus for Pakistan’s first focused research Information Technology University Punjab and under this contract IDAP  has been assigned in the phase –I to construct State of the art purpose built campus of ITU on 184 acres near Lahore airport at an estimated cost of Rupees five billions in a period of 12 to 18 months.

The Phase-1 would consist of construction of Academic block, library, hostels, sports complex and faculty apartments while the facilities would cater the needs of 4000 students and 500 faculty members, he added. ITU being Pakistan’s first focused Research University will have 150 modern labs in phase-1.

The meeting was informed that overwhelming response witnessed in the admission process of Information Technology University (ITU) 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, which was highly encouraging for Pakistan’s I T industry as for the future progress, economic stability and growth, I T solutions are mandatory.

During the current admission process 14964 applications have been received while last year only 6200 applicants applied. In the received admission process of ITU Punjab, for BS Computer Science 6406, BS Electrical Engineering 1975, BS Management and Technology 1421 MS Computer Science and Data Science 3200, MS Electrical Engineering 900, MS Development Studies 200, Executive MBA (EMBITE) 247, PhD Computer Science 392 and PhD Electrical Engineering 223 applications were received and necessary scrutiny and verification process of the documents provided with the applications is being carried out. The process of interviews of the successful candidates is currently underway. In view of the available seats the acceptance ration will be 1.8 %.

Referring to the scholarship and financial aid, Dr. Umar Saif informed the meeting that generous, merit, need based and PEEF scholarships were being offered to the ITU Punjab students. So far 780 students have availed this facility, which include 75 % by 196 students, 50 % by 184 students, PEEF 219 students and 100 % scholarship with stipend by all PhD students. The partnership with public policy for writing cases on various provincial development projects was being initiated, he added.

He further stated that the Department for International Development (DFID) foreign funded up to UK Pound 5000,000 helps to build capacity of the existing organizations in Pakistan to support evidence based innovations in education. By 2019, 250,000 children between 5-16 years (50 % girls) would benefit from the program, he said.

Dr. Saif stated that Pakistan’s first mega event four day 9th International Conference on Information & Communication Technologies and Development (ICTD) Pakistan 2017 in computer sector being hosted by The Information Technology University (ITU) at Lahore from 16th to 19th November this year. The members including HEC Punjab’s Chairman Dr. Nizzamuddin and others reviewed the financial and other matters and gave decisions. ITU syndicate formed an investment committee for the endowment fund.