We are pleased to inform you that this year we have donated Rs 1,800,000 ($7,600) to the studentship programme. The Parent Body has invested that in a five -year fixed term deposit. That deposit account is very specific and named after WA Chapter. It generates a monthly interest of Rs 25,500 and that would be used for five (5) studentships, at the rate of Rs 5000 per month, for the next five years. As we are using only the accrued interest, the capital remains unused. Therefore, if all goes well, these five studentships could go for a very long time.
Last year we donated Rs 1,025,000 ($7,900), which is being used for seven (7) studentships. The scholarship stipend would be paid during the entire stipulated period of studies, which would be four or five years. Therefore, very soon, we will support twelve (12) needy students at our university.
I believe that this a great achievement we were able to reach during the last two years, which all of us can be proud of, with the generosity of our members, sponsors & friends and the hard work and dedication of the last and current committees.