The ELY Foundation: Entrepreneurship, Livelihood and Youth is a company set up under Section 42 of the Companies Ordinance 1984. The company was granted the licence by Securities and Exchange Commission of Pakistan (SECP) on January 20, 2017. It was formed with the primary object “to enhance skill and training of the poor needy house-wives and youth for their health, awareness of hygiene, need of balanced food and capacity to increase their family income”. Additionaly the company has the following objectives:

• To establish, manage, own, administer, promote entrepreneurship and human resource development centers, institutions for human resource development, advanced trainings, professional studies and other related education with the permission of competent authority.

• To promote entrepreneurship and enhance individual’s employability through vocational training and educating for skill development and competencies, soft skills, in the area of capacity building, product development, branding and marketing and awareness about different emerging opportunities for entrepreneurs in affiliation with recognized Professional body(ies).

• To assist individual’s by providing financial assistance as Karza e Hasna for set up a business but not to carry on the micro financing business.

• To provide a platform for research and development relating to object of the company.

• To provide scholarships to students and grant aid including supply of books, stipends, medals, prizes, grants, awards, educational career support, and other incentives for purposes of the promotion of entrepreneurship in the country.

“MUNIFF ZIAUDDIN & CO Chartered Accountants have audited the financial statements of ELY FOUNDATION (the company), which comprise the statement of financial position as at June 30, 2021, the statement of income and expenditure notes to the financial statements, including a summary of significant accounting policies.”