Fauji Foundation

Fauji Foundation (Urdu: فوجى فاؤنڈیشن‎, Sindhi: فوجي فائونڊيشن‎; lit. Soldier Foundation; initials: FF), is one of the largest financial services and one of the largest energy conglomerates in Pakistan, with interests in fertilizer, cement, food, power generation, gas exploration, LPG marketing and distribution, financial services, employment services, and security services. The word "Fauji" ("فوجي") is an Urdu word that means "soldier" and the company was set up in order to provide employment and welfare benefits to Pakistani ex-military personnel and their dependents.[1][2] It is run by former officers of Pakistani Armed Forces.[3]

FF's shareholding in its associated companies has a market value of USD 661 million, while the companies represent 3.3% of the total market capitalization at the Karachi Stock Exchange.

History and overview

Fauji Foundation was established as a charitable trust in 1954, and operating on a completely self-sustaining basis, channels approximately 80% of the profits from commercial ventures into social protection programs that serve a beneficiary population representing approximately 7% of the country’s population.

Spending more than Rs. 23.8 billion since inception on welfare, the Foundation provides services in the areas of healthcare, education, educational stipends, technical and vocational training.

Holding entities

Fully owned

Associated

Under implementation

International recognition

Fauji Foundation was awarded the Rehabilitation Prize from the World Veterans Federation (WVF) in 1997 at Seoul, South Korea which was received by then Fauji Foundation Director, Welfare (Health & Education) Brigadier Muneeb-ur-Rehman Farooqui SI(M). The prize was awarded:

for the Foundation's remarkable achievements in looking after ex-servicemen and their families in providing health care, education, technical training, employment, artificial limbs and other facilities for the rehabilitation of disabled ex-servicemen, thus enabling them to be full-fledged citizens contributing to the welfare of their communities.[5]

Corporate structure

The Fauji Group currently employs approx. 12,411 employees in various sectors including fertilizer, cement, natural gas, power generation, oil terminal operations, financial services, healthcare and education.

The Committee of Administration (COA) is the policy board of the organization. It is responsible for defining the strategic direction of the Foundation without its involvement in the day-to-day functioning.

The Central Board of Directors (CBODs) functions as the management committee, which is responsible for the day to day fiscal and management control of the organization within the broad policy mandate. It ensures that policy objectives are met. Secretary, Ministry of Defense, is the ex officio Chairman of Fauji Foundation, whereas Vice Chairman and Managing Director oversee the day-to-day operations of Fauji Foundation with requisite direction to the functionaries.

Health Care Hospitals

Education system

The Fauji Foundation's education system aims to provide education to the children of ex armed forces personnel, as well as to civilians.

The headquarters of Fauji Foundation are in Rawalpindi, Pakistan. FFES is affiliated with the Federal Board of Intermediate and Secondary Education (FBISE), Islamabad. There are 102 schools (FF model schools) in Pakistan. The Fauji Foundation College For Boys and Fauji Foundation College For Girls are located in New lalazar, Rawalpindi.

Notes

  1. ↑ http://www.fauji.org.pk/Webforms/Reference.aspx
  2. ↑ http://www.fauji.org.pk/Webforms/Welfare.aspx
  3. ↑ Pakistan delays LNG contract with French company, Reuters, 2010-04-14
  4. ↑ http://www.freshnfreeze.com/ff.html
  5. ↑ http://www.defencejournal.com/jan99/fauji.htm

References

External links

This article is issued from Wikipedia - version of the Tuesday, March 22, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.