LAHORE: After controversy over Imran Khan’s comments in court, the management of Shaukat Khanum Memorial Trust (SKMT) has clarified that they have invested $3 million in an endowment fund in a real estate project in Oman to make it a cancer standard. Can be used to provide treatment. JEE News reported Monday.
The clarification came in response to reports of its founder Imran Khan using SKMT funds in real estate. SKMT said its funds were never misused or “diverted” by its chairman Imran Khan or any other individual.
All of its funds, including funds invested in its endowment fund, are used to support its mission of providing world-class care to cancer patients, a spokesperson for SKMT said.
“As is common for many charitable organizations, SKMT created an endowment fund to provide financial security and meet long-term expenses. The endowment fund is overseen by an investment committee, the fund on the committee’s recommendations. “With all investments made by. The chairman does not make and has not made investment decisions in isolation,” the spokesperson said.
He added, “It is very important to mention that only non-zakat funds are invested in this way, with all zakat collected being used directly on patient care within the year in which It accumulates.”
About the investment in real estate, the spokesperson said: “In 2008, an endowment fund invested USD 3 million in a real estate project in Oman. The investment was quickly funded with a 100% capital guarantee. Exit was granted. Investment. In 2015, SKMT exercised its early exit option and the full amount of US$3 million was properly received.”
He added that the trust has already shared the details of this investment and the recovery of its funds with the public several times. Although this investment did not yield a return in dollar terms, it certainly did in rupee terms, as the exchange rate differential mentioned in the article in question worked in favor of SKMT.
The spokesperson added: “Like all other financial transactions, all investments made by SKMT and its endowment fund are regularly audited and reported, with financial reports made publicly available through Shaukat Khanum’s website. are available. Both the initial investment, and subsequent returns, are reflected in the organization’s financial reports, and will be publicly available.”
Complete data on all contributions are maintained and audited by an independent third party to ensure compliance with all relevant laws, not only within Pakistan, but in all jurisdictions where funds are raised by SKMT. are, or support.
Over 30 years, the trust treated 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 specialized cancer treatment elsewhere, the spokesperson said. It is strictly because of its strong clinical, administrative and governance systems that SKMT became only the second institution in the world to receive enterprise accreditation from the US-based Joint Commission International in September 2022.
The spokesperson added that such allegations aimed at instilling doubts in the minds of their donors are tantamount to playing with patients’ lives.
The official added that the cost of providing cancer care continues to rise, and despite the critical financial situation, the management of SKMT is committed not only to providing the latest cancer treatment to all its patients but also to Also determined to defend. Excellent reputation for financial transparency.
JEE News reported on Sunday that PTI Chairman Imran Khan admitted that he invested $3 million in funds donated to the Shaukat Khanum Memorial Trust (SKMT) in a housing project.
This disclosure was made on Saturday during the hearing of the Rs 10 billion defamation case filed against Defense Minister Khawaja Asif. The former prime minister appeared in court through a video link from his residence in Zaman Park, Lahore.
