PENANG SEEKS CORPORATE CONTRIBUTIONS FOR PFF SCHOLARSHIP SCHEME

GEORGE TOWN, March 20 (Bernama) -- The Penang state government is appealing for financial contributions from the private sector to support the Penang Future Foundation (PFF) scholarship programme, which is facing a potential funding shortfall.

Chief Minister Chow Kon Yeow said the PFF fund is now down to less than RM5 million which is only enough to to benefit scholarship recipients for the next two to three years.

“We do not want to reduce the number of recipients, even though it is less this year due to limited funds,  so we are appealing to the industry to contribute to this scheme as it will also benefit them,” he told a press conference at his office here today.

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This year marks the 10th year of PFF’s establishment, with 805 undergraduates having benefited from it so far.

According to Chow, the state may also need to top up the fund to be able to continue sponsoring undergraduates in science, technology, engineering, accounting and mathematics (STEAM).

The Chief Minister said the PFF scholarship scheme is the state government’s efforts to retain talents in Penang as it binds the scholarship recipients to work in the state for two to five years after graduating.

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However, he said it is a tall order to expect the state to continue to provide a bottomless talent pool as this placed a high financial strain on the state’s already limited resources.

“Though we intend to continue with this initiative as long as possible, I must implore the generosity of key industry players in Penang to step forward and contribute to ensure PFF remains a lifeline for deserving students,” he said.

As a result of the PFF, he said many of the graduates are now working in the industries in Penang and some have also completed serving the duration required.

Between 2015 and 2024, a total of RM44.5 million has been disbursed to 805 students and in 2024 alone, PFF awarded scholarships totalling RM2.71 million to 54 students.

The PFF scholarship is open to undergraduates studying in STEAM courses excluding medicine.

Recipients will be bound to work in any company or organisation in Penang between two to five years upon graduation depending on the scholarship funds they received.

-- BERNAMA