LAHORE - The Government College University Lahore Endowment Fund Trust (GCU EFT) Wednesday announced initiating 21 lifetime scholarships for deserving students with the donations by the old Ravians and philanthropists. GCU EFT Executive Committee Secretary Khalid Manzoor Butt said that the scholarships include 11 golden and 10 sliver scholarships. A golden scholarship covers the university fee as well as hostel expenses of a student while a sliver scholarship covers the university fee only, Mr Butt said. He added that the scholarships are initiated on the special directions of Vice Chancellor Dr Khalid Aftab and will be given to GCU students on merit every year. He said that scholarships are named after those people who donate money for them. Charity begins at home, Mr Butt said, adding that GCU Vice Chancellor Dr Khalid Aftab has also donated Rs 500,000 to initiate a lifetime scholarship for deserving students. However, Mr Butt said the other scholarships include three by Lahore Chamber of Commerce and Industry, three by Iqbal Z Ahmed, one of Bank Al Habib Limited, two by Infaq Foundation, one by Allied Bank of Pakistan and one scholarship of Mian Misbaur Rehman. Talking about scholarships and endowment fund, the GCU Vice Chancellor said that the universities all over the world have come forward by establishing their endowment funds. Harvard University has an endowment fund of $25.474 billion, Yale has $15.225 billion and a small university like the University of Virginia has endowment fund of $3.219 billion, he added. He said that the culture of supporting education is also promoting in Pakistan. He said that GCU is might be the only public sector university which has active endowment fund. However, he said, that the Higher Education Commission directed all the universities to establish their endowments. Dr Khalid Aftab also said that every year around 2,100 GCU students from intermediate to PhD level apply for the financial aid, but the university due to limited financial resources accommodate only 20 percent of them.