ISLAMABAD: Prime Minister Shehbaz Sharif launched the Sports Endowment Fund to support athletes and senior players in the country.
Launching the Prime Minister’s Youth Sports Initiative in Islamabad today, the prime minister said the country’s foreign exchange reserves have further increased by $600 million after the Exim Bank of China rolled over a loan.
The prime minister said although foreign exchange reserves are increasing, the government does not want to do it not through loans but by generating income.
“This is possible as youth have the potential to excel and take the country forward in the fields of sports, Information Technology, industries, and agriculture,” he said.
The prime minister paid glowing tributes to the athletes for earning fame for Pakistan through their outstanding performances.
He said five billion rupees have been allocated in the budget to meet the necessary expenditures for the promotion of sports.
He said if provided with the opportunity after the elections, they would provide more resources for education and skills development to develop sports.
The Prime Minister’s Youth Sports Initiative encompasses the establishment of Sports Endowment Fund, the country’s first sports university in Islamabad, Elite Sportsperson Development Program, and measures for the promotion of traditional as well as e-sports.
In his remarks on the occasion, Minister for Interprovincial Coordination Ehsan-ur-Rehman Mazari said a number of initiatives have been taken over the last fifteen months to further strengthen sports infrastructure in the country.
He said a sports policy has also been prepared to promote various sports. He said structural reforms have been introduced in the departments in order to enable youth better compete at international events.
Special Assistant on Youth Affairs Shaza Fatima Khawaja recalled that Prime Minister Shehbaz Sharif revived the departmental sports after assuming power to nourish the capacity and capabilities of athletes.
She said the sports elements have also been included in the Prime Minister Youth Program under which talent hunt programs for hockey, football and volleyball have been conducted across the country. She was confident that the talent would further earn fame for Pakistan at the international level.
She said the Sports Endowment Fund will provide financial assistance to our legends as well as emerging players and the elite pool. She said one billion rupees will be spent on the establishment of the sports university which will prepare sports managers and other technical staff.
