KP to set up Rs 100 Million Youth Welfare Fund

The PTI led provincial government of Khyber Pakhtunkhwa has prepared draft legislation for the establishment of Youth Welfare Endowment Fund to financially support and assist the youth for flourishing their new business ideas and enable them to lead a prosperous life in the society. The move is an attempt to lure youth ahead the upcoming general elections. The ruling political party is claiming the support of the youth, which is major population of the country.
The legislation carrying the title of the Khyber Pakhtunkhwa Youth Welfare and Endowment Fund Bill, 2018 was included in the agenda of the provincial assembly for April 16, 2018. However, before its introduction, the session was prorogued sine die. Under the proposed legislation, the government will establish a Youth Welfare Endowment Fund with an initial capital of Rs 100 million and may from time to time credited with government grants, grants from philanthropists, non-governmental organizations and any other organization working for the welfare of the youth and income from any other legal source.
The profit accrued on the Fund will be utilized for small grants for capacity building for new established youth organizations; sponsorship for individual youth, attending some national and international youth conferences; cash prizes to youth, who has attained excellence in any field; and any other youth activities to be organized by the Directorate of Youth Affairs.
A committee headed by Secretary Sports, Culture, Tourism, Youth Affairs, Archaeology and Museums Department and comprising of a representative of finance department and Director Youth Affairs will carry out the purpose of the law. Furthermore, the committee may nominate any person as co-opted member and such member will not have right of casting vote.
The chairman of the committee may convene meetings of the committee on quarterly basis at time and place as he may deem necessary which is convened for the transaction of its business. The chairman will preside over the meetings of the committee wherein the decisions will be taken by majority of its members present.
The preparation of agenda and minutes of the meeting will be the responsibility of the Director/being member-cum-secretary of the committee. The committee will evolve its own procedure for the conduct of its business and no remuneration will be admissible to the chairperson or any member of the committee for performance of their duties.
The Bank of Khyber will be responsible to maintain the accounts of the funds in such forms and in such manner as may be prescribed. No amount from the fund will be withdrawn, unless it is approved by the committee. Withdrawal of amount will be permissible only under the signature of Director, in his capacity as member-cum-secretary of the committee. The accounts of the fund will be audited once in a year by the Auditor General of Pakistan and government will make rules for carrying out the purposes of the law.