(Lahore News HD)- Punjab Education Endowment Fund (PEEF) has also been exposed for an embezzlement of more than Rs. 1 million 51 crore.

This fund has been made for giving scholarships to all deserving students. However, now embezzlement of more than Rs. 1 million has been reported in this fund.

The chairman of PEEF Chief Minister (CM) Punjab Mian Muhammad Shahbaz Sharif himself conducted sessions. It has been revealed that millions of rupees have been retrieved from national treasure in terms of scholarship.

Apart from merit the scholarships of Rs. 19 crore 30 lac have been released which have been utilized by all those students who were not up to the mark as per the conditions of this fund.

From the year 2009 to 2016, around 42 favorite persons have been appointed on without any advertisement. During 6 years, 13 officers have been promoted apart from merit which has caused a loss of Rs. 2.5 crore to national finance.

During the year 2012-13, school bags have been bought against PPRA rules due to which national finance had to go through a loss of Rs. 52 lac and 23 thousand.

Auditor General of Pakistan after analyzing this embezzlement has submitted an application to find out the responsible persons in this matter.

According to PEEF officials, on the other hand, all scholarships have been released to students on merit. Vice Chairman Dr. Amjad Saqib has said that PEEF is a very good initiative of government and if there is any sort of embezzlement, the matter will be resolved in the session.

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