LAHORE - The Information Technology University (ITU) is preparing programmes to generate money through innovative applications developed by the faculty and students.

ITU Vice Chancellor Dr Umar Saif said this while chairing the 5th meeting of the syndicate on Monday. Referring to scholarships and financial aid, Dr Umar informed the meeting that generous merit and need-based and PEEF scholarships were being offered to ITU Punjab students. So far, 780 students have availed this facility.

He said the Department for International Development (DFID) gave 5000,000 pounds to build capacity of existing organisations and support evidence-based innovation in education. By 2019, he said, 250,000 children between 5-16 years (50% girls) would benefit from this programme.

Dr Saif stated that Pakistan’s first mega event, four-day 9th International Conference on Information & Communication Technologies and Development (ICTD) Pakistan 2017, was being hosted by the ITU in Lahore from November 16 to 19 this year.

HEC Punjab Chairman Dr Nizzamuddin and others reviewed financial and other matters and gave decisions. The ITU syndicate formed an investment committee for the endowment fund.

Dr Umar Saif said that under a contract signed on June 12, 2017 between the ITU and the Infrastructure Development Authority of Punjab (IDAP), the main campus of the ITU would be built on 184 acres near Lahore airport at an estimated cost of Rs5 billion in 12-18 months. He said that 14,964 applications had been received for admissions to various programmes. Last year, he said, only 6,200 applicants were received.