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The newly formed finance industry trade union federation; Pakistan Bank Insurance Finance Employees’ Federation [PBIFEF] launched a scholarship scheme for the benefit of children of their members. PBIFEF named the scholarship scheme after their founder General Secretary Late Ifthikar A Sheik.

Eight students were selected to receive scholarships on merit; assessed on matriculation examination results, students will be receiving monthly scholarships for a period of two years to advance their scholastic  achievements. Scholarships were distributed by Mdm. Sheik, wife of Late Ifthikar A Sheik, at a simple ceremony held on 18th October 2016 at the Industrial Relations Institute’s auditorium in Lahore, Pakistan.

Dr. Javaid Iqbal Gill, Industrial Relation specialist is appointed as the Chairman of the scholarship board who is responsible for managing the scholarship scheme supported by Eng. Imran  Yasin Sheik, Sajid Ali Abbasi, General Secretary of PBIFEF and Fasih Ud Din UNI Apro coordinator in Pakistan. 

UNI Apro Regional Secretary Christopher Ng announced the launch of the scholarship scheme at  the founding conference of PBIFEF in February 2016 in Islamabad. UNI Apro and partners extended the  initial financial support to the scholarship scheme to be continued by the PBIFEF by setting up of a trust.Rajendra Acharya Asst. Regional Secretary and Jayasri Priyalal Regional Director UNI Apro Finance represented UNI Apro, together with officials representing UNI affiliates and other  trade unions and the senior management of the State Life Insurance Corporation of Pakistan  at the ceremony held in Lahore.

National Industrial Relations Council in Pakistan has recognized PBIFEF as an industrial federation. There are ten finance industry unions in the new federation and four other unions including state-owned National Bank of Pakistan employees union have expressed interest to join the federation, said Muhamad Farooq Chuadhry, President of the PBIFEF.