Punjab May Shut Down Health Foundation After 34 Years

The Punjab government is contemplating the closure of the Punjab Health Foundation (PHF), an institution that has operated for 34 years. The Finance Department has requested PHF to furnish comprehensive information about its finances, assets, liabilities, personnel, and existing loans. PHF has extended more than Rs. 2.5 billion in interest-free loans to over 2,100 physicians.

It has managed its operational expenses without government assistance. Presently, the foundation's bank account contains approximately Rs. 1.328 billion. Its loan recovery rate stands at 98 percent. Over the years, PHF has facilitated the establishment of about 2,100 healthcare centers in Punjab, resulting in around 10,000 jobs.

The foundation has also distributed over Rs. 4.4 billion in stipends. It currently oversees online systems for stipends and interest-free loans for healthcare professionals.

The possible closure of PHF is being evaluated as part of the government's austerity measures. Officials are also contemplating moving PHF employees and funds to other institutions. However, a final decision has not been taken. The government will make a conclusive decision after consulting with relevant authorities. The Punjab Health Foundation Act, 1992, established PHF, which aims to provide financial assistance to doctors and healthcare institutions to enhance private healthcare services in the province.