Panel formed to manage Rs500m endowment fund

Islamabad : The National History and Literary Heritage Division’s Board of Governors has formed an executive committee to manage the affairs of the Rs500 million endowment fund created to promote literary activities in the country and provide financial assistance to deserving literary persons.

The committee comprises four BoG members including media expert Hameed Haroon, former Cabinet Division secretary Ejaz Raheem, Taxila Institute of Asian Civilizations head Dr Muhammad Ashraf Khan and noted fiction writer Musharraf Farooqui, joint secretary and deputy secretary of the National History and Literary Heritage Division, and adviser to the finance ministry.

The committee will have maiden meeting on June 4 to finalise rules and future plans for the promotion of literary activities in the country.

The development comes during a BoG meeting here.

The board also formed an investment committee with for NH&LH Division secretary as its chairman and Ejaz Raheem, joint secretary of the division, and adviser to the finance ministry.

The committee will supervise the Endowment Fund’s matters on investment and profit and present its recommendations to the board for approval. The board members said they strongly felt that the committees’ formation would promote literary activities, help needy writers, and revitalise literary institutions.