PSB boosts sports fund

The Pakistan Sports Board (PSB) has approved a comprehensive Investment Policy for the Pakistan Sports Endowment Fund, marking a significant step towards ensuring sustainable financial support for sportspersons across the country. The decision was taken during the 36th Board meeting of the PSB. Director General PSB Yasir Pirzada presented the policy which was unanimously endorsed by the Board members. The Board was informed that the fund, which had an initial reinvestment base of Rs. 60 million, has now grown to Rs. 68.757 million through prudent financial management. The profit generated from these investments shall be utilized to provide financial assistance to veteran sportspersons and their dependents. To further expand the scope and impact of the initiative, it was apprised that a request has been made to the Federal Government for seed money of Rs. 5 billion to significantly enhance the size and outreach of the Endowment Fund. Importantly, the Board directed that the principal amount of the Endowment Fund shall remain intact and shall not be utilized under any circumstances, ensuring long-term sustainability of the initiative. It is pertinent to note that the Federal Cabinet had earlier approved the Pakistan Sports Endowment Fund Scheme, 2025, replacing the earlier 2007 framework following the Prime Minister Shahbaz Sharif's announcement to establish a more robust financial support system for sportspersons.