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Funds invested in real estate used for cancer care: Shaukat Khanum Trust

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  • Invested $3m in endowment funds in real estate: SKMT. 
  • Endowment funds used to provide cancer care: spokesperson.
  • SKMT investments are audited by third parties, says spokesperson. 

LAHORE: Following controversy on Imran Khan’s comments in court, the management of Shaukat Khanum Memorial Trust (SKMT) clarified that they invested $3 million in an endowment fund in a real estate project in Oman so they can be used to provide quality cancer care, The News reported on Monday .

The clarification came in response to news items regarding the usage of SKMT funds in real estate by its founder Imran Khan. The SKMT said that its funds have never been misused or “diverted”, by its chairman, Imran Khan, or any other individual

An SKMT spokesperson said that all its funds, including those invested in its endowment fund, are used only to support its mission of providing world-class care to cancer patients.

“As is common for many charity organisations, SKMT created an endowment fund to provide financial security and to cater for expenses in the long term. This endowment fund is supervised by an investment committee, with all investments made by the fund upon the recommendations of this committee. The chairman does not, and has never, made investment decisions in isolation,” the spokesperson said. 

He added, “It is crucial to point out that only non-Zakat funds are invested in this manner, with all Zakat collected being utilised on direct patient care within the year in which it is collected.”

On investment in real estate, the spokesperson said: “In 2008, an amount of US$3 million was invested by the endowment fund in a real estate project in Oman. The investment allowed for an early exit, with a 100% capital guarantee on the investment. In 2015, SKMT exercised its early exit option and the entire amount of US$3 million was duly recovered.”

He added the trust has already shared details of this investment, and recovery of its funds with the public numerous times. Although the investment did not generate a profit in dollar terms, it certainly did in rupees, since the difference in exchange rate referred to in the article in question worked in favour of SKMT, he added.

The spokesperson added: “As with all other financial transactions, all investments made by SKMT and its Endowment Fund are duly audited and reported, with financial reports being made publicly available through the Shaukat Khanum website. Both the initial investment, and its subsequent return were reflected in the organisation’s financial reports, and continue to be publicly available.”

Complete data of all contributions are held and audited by autonomous third parties to guarantee compliance with all relevant laws, not only within Pakistan, but in all jurisdictions where funds are collected on behalf of the SKMT, or to support it.

The spokesperson said that over 30 years, the trust treated more than 45,000 to 50,000 cancer patients every year at SKMT hospitals in Lahore and Peshawar, most of whom would have been unable to access highly specialised cancer treatment elsewhere. It is strictly because of its strong clinical, administrative and governance systems that the SKMT became only the second institution in the world to gain Enterprise Accreditation from the US-based Joint Commission International in September 2022.

The spokesperson added that allegations aiming to sow doubt in their donor’s minds are equivalent to playing with patients’ lives.

The official added that the cost of providing cancer care is continuously on the rise, and despite brittle financial conditions, the management of SKMT is committed not only to providing state-of-the-art cancer treatment to all its patients but also to defending an excellent reputation for financial transparency.

The News reported on Sunday that the PTI Chairman Imran Khan admitted that he invested funds worth $3 million donated to the Shaukat Khanum Memorial Trust (SKMT) in a housing project.

The revelation was made during a hearing of an Rs10 billion defamation case filed against Defence Minister Khawaja Asif on Saturday. The former prime minister appeared in the court from his Lahore residence in Zaman Park via video link.

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“Apni Chhat.Apna Ghar”: Punjab’s Chief Minister Examines a House Under Construction

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Punjab Chief Minister Maryam Nawaz Sharif visited a home in Kot Lakhpat, Lahore, constructed under the “Apni Chhat Apna Ghar” Loan Scheme.

To give the home owner furniture, CM Punjab gave the order.

The walls on the three-marla plot have been finished, and the roof-laying process has begun.

Chief Minister Maryam Nawaz Sharif gave Subia Munir a roof and gave a check for the second installment of the house’s development.

Maryam Nawaz was happy to be able to offer the home owner her warmest wishes on this particular occasion.

She stated that every citizen has the right to own a home and that the government is dedicated to helping those in need.

Information and Security Minister Uzma Bukhari, Housing Minister Bilal Yasin, Senior Minister Maryam Aurangzeb, and other officials attended the event.

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148 X-ray machines have been allotted to the provinces as part of the comprehensive measures taken to eradicate tuberculosis. This is Dr. Mukhtar.

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TB is being eradicated across the country, according to Dr. Mukhtar Bharath, who is the Coordinator to the Prime Minister on National Health Services. He has stated that efforts are being implemented that are both coordinated and effective.

For the purpose of diagnosing and eliminating tuberculosis, he stated in a statement that 148 X-ray equipment had been allotted to the provinces.

133 X-Ray machines have been delivered up to this point, according to him, and the process of distributing the remaining devices is currently underway and will be finished in the near future.

Dr. Mukhtar Bharath stated that these equipment are going to be deployed in hospitals that provide services for the detection and treatment of tuberculosis that are available.

In order to strengthen the primary health care system, he says that all of the essential actions are being taken.

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Speech Made by Pakistan’s Prime Minister on the International Day Against Poverty

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In renewing our commitment to a world where no one is left behind and where possibilities for success are unrestricted by one’s origin or circumstances, Pakistan stands together with the global community on this International Day for the Eradication of Poverty. In addition to being morally right, ending poverty is essential to attaining sustainable development and guaranteeing everyone’s peace and prosperity.

The people have always been the center of every policy made by our government. We have significantly reduced poverty and made sure that our most vulnerable residents are taken care of thanks to our social safety net programs. We think that providing long-term routes to economic empowerment is equally as important as providing instant relief when it comes to assisting people in escaping poverty. Our focused initiatives seek to equip communities—women and children in particular—with the means to create better futures for themselves.

The Pakistani government is steadfast in its commitment to improving the affordability of living for its citizens despite the obstacles we face on a global scale, such as inflation and economic instability. Our policies are designed to build long-term economic resilience, from meeting housing needs to guaranteeing food security. With the help of programs like the PM Youth Business, Agriculture Loans, Digi-Skills, which offers free IT training, and the Pakistan Education Endowment Fund, millions of families are receiving financial support and technological help that is changing their lives.

Eradicating poverty is also a top priority for Pakistan, which is still fully committed to reaching the 17 Sustainable Development Goals (SDGs). With a focus on inclusive growth, education, healthcare, and environmental sustainability, we will keep working together with our international partners to achieve these goals. The advancements made in empowering women and guaranteeing that their contributions are essential to the country’s social and economic fabric are another reason for pride.

On this day, I would want to express my sincere gratitude to everyone who is devotedly striving to end poverty, both in Pakistan and globally. We can create a future where everyone, regardless of circumstances, has the chance to flourish and succeed by uniting with a shared purpose and unwavering determination.

I speak on behalf of the Government of Pakistan to reiterate our steadfast commitment to this cause and to extend an invitation to all facets of society to work with us to create a world that is more wealthy, just, and inclusive.

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