LAHORE - The Government College University Lahore Endowment Fund Trust (GCU-EFT) has set up Teachers Training Fund with seed money of Rs2 million donated by the Trust president Iqbal Z Ahmed. Besides, the Trust also raised an amount of Rs7 million for those deserving students who cannot afford their academic dues. The amount was raised at a fundraiser chaired by GCU Vice Chancellor Professor Dr Khalid Aftab while Barrister Chaudhry Aitzaz Ahsan was the chief guest on the occasion. Former governor of Oklahoma, US, David Walters, also attended the GCU-EFT fund-raiser and donated Rs1.3 million for initiating scholarships for deserving students. Addressing a large gathering of donors, GCU Vice Chancellor Prof Khalid Aftab said that around 2,100 GCU students applied for financial aid every year and due to limited financial resources it becomes difficult for the university to accommodate all the students. He said Endowment Fund Trust was established to bridge the gap. He said that GCU last year also gave away scholarships of Rs11 million to deserving students from its annual budget and would continue the practice. The VC said that the recent increase in the staff salaries had put an additional burden of Rs62 million on the university budget. However, he said, the university, instead of passing on this burden to students, was trying to generate money from other resources. He said that GCU as a public sector university always tries to avoid increase in its fee structure. Aftab also told the donors that GCU within eight years of its inception has been ranked the best university of Lahore in terms of research output besides securing 5th position among all the private and public sector universities of Pakistan. Addressing the fundraiser, Iqbal Z Ahmed said that GCU-EFT was also planning to hold fundraisers in Karachi, UAE and UK. He also announced initiating a lifetime golden scholarship with a donation of Rs1 million from Zohra and Iqabl Z Ahmed Foundation. The scholarship would be given to a student on merit every year. Aitzaz Ahsan said secular lessons had always been the key element of education at the Government College. He said that GCU teachers had always encouraged questioning, difference of opinion and argument, besides teaching tolerance to students; tolerance towards the beliefs, faith, race, religion and ideas of other people. He discussed in detail the role of GC and his teachers in sharpening his personality, skills and talent. Later, GCU-EFT Secretary Khalid Manzoor Butt said that the Trust wanted to give away one part of donations to the flood victims but it was not possible as GCU-EFTs rules and regulations does not allow it to spend money on anything else other than the deserving students and development of GCU. Moreover, he said that the endowment funds never spend the principle amount but the profit, they earn from the principal amount, is spend on deserving students and development projects. Butt also said that the university would launch a separate campaign to collect funds for flood victims. Aitzaz announced a donation of Rs0.1 million for the GCU proposed campaign for flood victims. Lahore High Court Chief Justice Khawaja Sharif, Justice Saqib Nisar, Gymkhana Club Chairman Mian Misbahur Rehman, PTCL Senior Vice President Naveed Saeed, Asher Nazir, Altaf Khan and Main Anwar were among the noted Old Ravians who sent donations for deserving students at the GCU fundraiser. Later, GCU Vice Chancellor Prof Khalid Aftab, Ch Atizaz Ahsan. and GCU-EFT President Iqbal Z Ahmed gave way shields to the donors of the GCU endowment fund.