On the 9th of November 2021, the Pakistan Medical Commission announced regulations for the National Medical Scholarship Fund and Trust 2021. Applications for the scholarship will open soon!
PMC has defined regulations for the National Medical Scholarship Fund and Trust and has given guidelines for scholarships, loans, the acceptance criteria, and the process of approval.
Scholarships and Loans
Freshly admitted students or students already enrolled in a medical or dental college can apply for financial assistance via scholarships or interest-free loans.
The scholarship or loan can be merit or need-based but the student will have to maintain certain merit criteria and the dues will be paid directly to the relevant medical college in the form of the student’s tuition fee.
The scholarship isn’t repayable but in case of a loan, the student will need to pay it back as per the conditions approved for student loans by the Trustees.
Any Pakistani student who is able to secure admission in a medical or dental college is eligible for the scholarship and loan.
The scholarship or loan will be renewed annually. In order to maintain the scholarship or loan, the student will have to meet certain merit or academic benchmarks.
Beyond the minimum period, no student will receive the scholarship or loan. In case the student fails a professional exam after two attempts, the scholarship or the loan will be immediately canceled and the loan will remain repayable by the student.
Applicants will be informed before the 31st of December each year, whether their application for the loan or scholarship has been approved or not.
Upon acceptance, the student can show the approval note to the medical college after admission, and the college will be responsible to charge only the excess amount after the scholarship or loan amount has been deducted.
The National Medical Scholarship Fund
According to the regulations, the National Medical Scholarship Fund will encompass annual grants with the approval of the council.
The grants will not be less than 25% of the distributable income available to the authority at the end of the financial year.
5% of all the registration and examination fees (omitting MDCAT) received by the authority will be reserved for this fund. The grants, money, or donations given by the government or by any other person will also make a part of this fund.
The fund will also contain 10% of all the licensing fees and charges that the authority receives.
The National Medical Scholarship Trust
As mentioned in the new regulations, the president of Pakistan will be the Patron of this trust. There will be 7 trustees and a chairman. The chairman will be chosen by the trustees from amongst themselves.
The trustees will not receive any benefits, expenses, or remuneration from the trust fund.
The council and the patron will select and appoint the first trustees unanimously. The trustee will remain appointed for life unless he is removed under the terms of the trust or if he chooses to retire.
The trustees will manage and supervise the fund and the operations of the trust.