PM launches Rs5b Sports Endowment Fund

ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday launched the Pakistan Sports Endowment Fund with seed money of Rs5 billion for the promotion of sports culture and welfare of athletes.

In his inaugural address the prime minister said, “Pakistan’s highly talented sportspersons deserve appreciation from the nation because despite limited resources they promote a positive image of the country across the world.”

He further stated that a direct investment of Rs2.5 billion out of the Rs5 billion will go to meeting expenses of the players including tickets, logistics, hotel expenses and more.

He said this initial amount will have to be increased overtime, and that if Pakistani athletes had the facilities for it, they would dominate globally.

He also soft launched a few other sports-related initiatives at the inauguration ceremony.

These include the first dedicated Sports University in the country to produce a critical pool required for sports events such as planners, managers, technical staff, nutritionists, physiotherapists and more. Rs1 billion out of the seed money will be dedicated to this project.

PM Shehbaz also inaugurated the Prime Minister Youth Sports Initiative to “provide world class sports facilities to the youth” and encourage sports across the country.

He also initiated the Elite Sportspersons and E-Sports Development Programmes.

According to Inter-Provincial Coordination Minister Ehsan ur Rehman Mazari the government has made “structural changes in the country’s sports to meet the emerging needs of games”.

Special Assistant to Prime Minister on Youth Affairs Shaza Fatima Khawaja said that “several sports’ departments that were closed by the previous government have been restored, due to which some 40,000 sportspersons who lost their jobs have also been restored.”