Investment plan: SHC orders Sindh Endowment Fund dept to submit SOPs

The Sindh High Court (SHC) has ordered Endowment Fund Department Sindh to submit SOPs for an investment plan in coordination with provincial Finance Department.
A single bench of SHC Justice Salahuddin Panhwar in a written judgment in a case related to Endowment Fund in the province.
Advocate General Sindh submitted the compliance report in earlier orders of the court on behalf of Finance Department and Health Department.
Secretary Finance Sindh told the court that Rs 51.95 million have been released in favour of endowment funds.
With regard to a summary for funds, Advocate General contended the summary was approved, however, an amount of Rs 7.1 million is yet not released due to court's order and the same may be allowed to be released as subject to adjustment by the Finance Department.
Accordingly, Secretary Finance shall examine the same and may release the amount as released other than endowment fund, the court directed.
The Secretary Finance contended that though they have released Rs 750 million in favour of endowment fund department but there is a need of proper SOPs and mechanism by the college education endowment department and the Finance Department is ready to provide them every assistance;
the Court ordered Additional Secretary Endowment Fund to coordinate with Finance department and submit SOPs with regard to an investment plan before the court on next hearing and that report shall also include all investments and details since inceptions and while examining their SOPs it is expected that finance department will increase the budget of Endowment Department.
Secretary, Social Welfare Department submitted compliance of paragraph No. 6 of order dated 28.02.2020 whereby directions were issued to complete project as 'pilot project' with regard to orphan kids, however, the gravity of the issue as well requirement of specified place(s) for the purpose, has given rise to modify rather expand the earlier order.
Court directed the Chief Secretary to constitute a committee to establish two pilot projects one in Malir and one in Dar-ul-Binat.
Since project in Malir was already in process, the court ordered that the same shall be ensured functional independently.
However, for other like pilot project, the Secretary Social Welfare Department shall ensure that portion of Dar-ul-Binat, occupied by Child Protection Authority, is vacated/shifted within 21 days and use thereof as pilot project.
This committee will work within the spirit of court's orders as well will coordinate with the concerned Magistrate if required, judgment stated and added that such notification shall be issued within three working days.