Islamabad: The Maritime Educational Endowment Fund is set to create a Rs25 billion scholarship corpus over the next decade, aiming to disburse approximately Rs12 billion to support around 65,000 students. The initiative was discussed at a meeting chaired by Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry, focusing on expanding access to maritime education and workforce development.

According to Press Information Department, the fund is designed as a “self-sustaining financial platform” to consolidate fragmented funding into a single investment model, as described by Junaid Chaudhry. The goal is to support tens of thousands of students through capital growth and reinvestment. The fund will be governed by a 10-member board, with its composition to be confirmed in an upcoming meeting, emphasizing public- and private-sector representation and gender inclusivity.

Attendees included representatives from Karachi Port Trust, Port Qasim Authority, Gwadar Port Authority, and Pakistan National Shipping Corporation, along with senior officials from the Ministry of Maritime Affairs. The fund’s initial capital will come from corporate social responsibility contributions by major maritime organizations and additional private-sector donations, estimated to total around Rs150 million.

Roughly 80 percent of the fund will be allocated to scholarships, with 10 percent earmarked for administrative costs. Initial CSR inflows are projected at approximately Rs2.35 billion in the first year, which will enable scholarship disbursements of about Rs285 million. Junaid Chaudhry emphasized the government’s commitment to enhancing maritime education and preparing Pakistani youth for the demands of the global blue economy.