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Punjab Education Foundation (PEF) will spend Rs 12 billion on the education of children from low-income groups during the current fiscal year, PEF Managing Director Tariq Mahmood said on Monday.

He said this while presiding over a meeting at his office on the utilisations of funds during the fiscal year 2016-17. He added that this amount will be spent on free schooling projects, launched in collaboration with private partnering schools in the province.

Tariq said that more than two million students are getting free school education under these programmes. The purpose of these projects is to help rehabilitate the needy students to stand on their own feet in practical life. He added that in order to ensure timely funding to the PEF partners every month, a proficient financial system had also been designed.

He also said that the PEF had also designed and implemented robust control structures that would provide guidance in financial and internal control related policies and procedures. He vowed that the PEF would continue to play a leading role in eradicating illiteracy and ignorance by promoting free quality education at the grass-roots level.

The meeting also reviewed budgetary allocations for different free education programmes for 2016-17 and noted that online payment system was benefiting the school partners. Different programme directors were also among the attendees.