September 15, 2014

Publican Alumni Trust signs Agreement to acquire School

The Publican Alumni Trust (PAT) has signed an Agreement to acquire a school from the Babaza Foundation Trust. The Agreement was signed on September 15, 2014 by Admiral (Retired) Shahid Karimullah, Chairman PAT

Earlier the Board of Trustees of PAT had authorized its negotiating team to finalize the terms and conditions of the agreement with the Babaza Foundation Trust. The PAT team consisted of the following:

• Admiral (Retired) Shahid Karimullah, Chairman Board of Trustees
• Mr. Khalid Zaki, Secretary Board of Trustees
• Mr. Khawaja Fariduddin, Member Board of Trustees
• Mr. Hassan Madani, Member Board of Trustees
• Mr. Arshad Iqbal Chaudhry, Member Board of Trustees

As per the Agreement, the school is being acquired for a total of Rs. 8,000,000. PAT has already paid an advance of Rs. 800,000 or 10% on signing the Agreement. The remaining Rs. 7,200,000 or 90% needs to be paid by December 15, 2014. Upon paying the remaining amount, PAT will take possession of the school. Thereafter, initial setup activities will be undertaken and the school will start operating from the next academic session.

Thanks to the generous contributions of Old Publicans, PAT has already collected an amount of Rs. 4,400,000. We now appeal to all of you to come forward and contribute generously so that the remaining Rs. 3,600,000 is collected before December 15, 2014.

The school is located in an under-privileged area of Shah Zaman Town, Korangi, Karachi. Initially, it will cater to the education needs of 250 students from low-income families. This is the first step in reviving the vision of our great Cantt Public School.