Question
PIEAS is in need for an endowment fund for establishing High Computing Facility for big data handling. Prime Minister during a meeting with Rector PIEAS
PIEAS is in need for an endowment fund for establishing High Computing Facility for big data handling. Prime Minister during a meeting with Rector PIEAS has promised to provide the funds and asked for estimated requirement. For the facility, Initially an amount of Rs 50 Million are needed for establishing lab, later on annual expense of 1.5 Million will be required forever to cover operating expenses. And additionally, an amount Rs 6 Million at the end of every fifth years will be needed for continuous improvement in the system. If 9% interest rate on endowment is offered by MCB Bank, what amount should be demanded from Govt. of Pakistan?
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