- Category: News
- Published on 12 July 2013
Principal's Appeal for Donation to CCH Endowment Fund Trust (CCHEFT)
My dear Abdalians, Assalam o Alaikum!
I hope that this epistle finds you in good health and spirits.You being the old students of this great institution, I have no doubt that the interest of your alma-mater measures very high in your priorities. As the incumbent custodian of CCH, I am confident that my Old Boys, will come scrambling to serve the interests of their mother institution when called upon. All great institutions have historically been sustained by their alumni in the end, and I have full faith in ours.
During my interaction with many Old Boys, I realised that while there was a strong desire to contribute and payback, the College lacked a reliable platform to receive donations. The Board of Governors was, therefore, approached to authorise the establishment of the Cadet College Endowment Fund Trust (CCHEFT) in Feb 2013; a step which should perhaps have been taken much earlier. You would be happy to know that within a short time, CCHEFT is now a
fully registered entity with eight trustees, and is anchored on a constitution which ensures complete transparency as well as protection of donations. All capital donations are virtually untouchable, and only a small proportion of the profit is utilizable under the controls of BOGs/ Executive Committee. For stability, five trustees are ex-officio (Secretary Finance, Govt. of Punjab, President FPCCI, Rector NUST, Chairman Executive Committee of BOGs CCH, and Principal CCH), while the remaining three are selected by the BOTs on rotation. (The current nominated Trustees are Dr. Sohail Naqvi, VC LUMS, Dr. Faisal Sultan, CEO Shaukat Khanum and Mr. Amjad Ali Khan, Managing Partner, Afridi & Angell, Dubai, UAE). All cheques are to be
jointly signed by the Secretary CCHEFT (Principal CCH) as well as by the Chairman Executive Committee. In addition, all CCHEFT accounts are to be annually audited by renowned Chartered accountant firm (Anjum Asim Shahid & Co.), and the audited accounts are to be placed on the Trust’s website.
The two registered Trust accounts, titled CCHEFT (Endowment) and CCHEFT
(Tied Donations), have been opened in HBL Hasanabdal, and are under full regulatory control of the SBP. While the former is meant to receive general endowment donations to be held in perpetuity, the latter is meant to receive donations for ‘specific projects and purposes’. The primary difference between the two is with regard to how we view the capital donation: while it is virtually untouchable in case of the former, we may use it for the latter, albeit in accordance with a written agreement between the Donor and the CCHEFT.
With such a transparent and secure platform available to receive your donations now, there is no reason to hold back anymore. We need to ensure the long term financial security of our great institution, for which generous donations are required. For those of you from the early entries, (when the College enjoyed a blue-eyed status with regard to Government funding, and hence cannot comprehend the need for donations in the first place!), the current grants are insufficient to even pay our salary bills. Maintenance and up-gradation have, therefore, remained neglected, leading us to the present state of affairs. We therefore need a dependable and secure financial support in the form of a vibrant and growing endowment fund, so that we are able to maintain our great traditions, values and standards. We are already very late in terms of establishing our Endowment Fund and have to move double-time to make up for the lost time.
In order to have an endowment which looks somewhat respectable vis-a-vis those of comparable institutions like Aitchison (a billion plus according to some estimates) or Ghora Gali, etc, we have to be generous with our purses. However, such things are slow to pick up momentum, and we have therefore set a rather conservative target of just Rs 100 Mn for 2015. Assuming an alumni base of 6000, this would translate into less than Rs 20,000 or US$ 200 per person. However, this is just a minimum guiding figure, and there would be many who would be in a position to donate much more. I was deeply inspired (and touched!) by the 15th Entry last year, when they spontaneously responded to my suggestion by collecting Rs 20000 from each of their entry-mates, and donating
Rs 2.6 Mn in lump-sum through their representative, Mr Tariq Raheem Anwar. I think the other Entries could emulate the same model.
Bank details for making donations:
A/C Title: CCH Endowment Fund (Sharia Compliant)
A/C No: 02747900676852
Branch Code: 0274
Branch Address: HBL, GF Ch Tariq Plaza, GT Rd, Hasanabdal
IBAN: PK17 HABB 0002 7479 0033 8601
Branch Tel: +92572523393
Looking forward to your generous donations for your alma mater.
Maj Gen (R) Najeeb Tariq HI (M)