The Maritime Educational Endowment Fund is being designed as a long-term financing mechanism for the maritime sector with projections indicating a potential Rs25 billion scholarship corpus over 10 years and cumulative disbursements of about Rs12 billion benefitting around 65,000 students.
The matter was discussed at a meeting chaired by Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry on Friday to review progress on the proposed fund, which aims to expand access to maritime education and support workforce development in the sector.
Junaid Chaudhry described the fund as a “self-sustaining financial platform” to deliver scholarships and strengthen capacity-building across the maritime industry.
He noted that the initiative will consolidate fragmented funding into a single investment model capable of supporting tens of thousands of students through sustained capital growth and reinvestment.
According to a briefing by Gwadar Port Chairman Noorul Haq Baloch, two preparatory meetings have already been held. The fund will be governed by a 10-member board; its final composition will be confirmed at the next meeting. The board is expected to include public- and private-sector representatives, with an emphasis on gender inclusivity.
Representatives from Karachi Port Trust, Port Qasim Authority, Gwadar Port Authority and Pakistan National Shipping Corporation attended the review, alongside senior officials from the Ministry of Maritime Affairs.
The minister said the fund will be initially capitalised through corporate social responsibility (CSR) contributions from major maritime organisations and additional private-sector donations. The meeting estimated private contributions could total around Rs150 million.
“The model we are developing is intended to be financially self-sufficient, built on seed funding and sustained contributions,” the minister said, noting that two preparatory meetings had refined the framework.
Under the proposed structure, roughly 80 percent of the fund will be allocated to scholarships, with 10 percent earmarked for administrative costs. Initial projections indicate CSR inflows of about Rs2.35 billion in year one, enabling scholarship disbursements of approximately Rs285 million.
Junaid Chaudhry said the initiative demonstrates the government’s commitment to strengthening maritime education and preparing Pakistani youth for the evolving demands of the global blue economy.
