The Shaukat Khanum Memorial Cancer Hospital and Research Centre (SKMCH&RC) was established in 1994 with the goal of providing cutting-edge and comprehensive cancer treatment services to all patients, regardless of their ability to pay.
For nearly three decades, over 75% of our patients have received world-class cancer treatment completely free of charge, thanks to the generous support of Pakistanis both at home and abroad.
In response to a recent news story published in some media outlets, Shaukat Khanum Memorial Trust has stated unequivocally that all of its funds, including those invested in its endowment fund, are solely used to support the organization’s mission of providing excellent care to cancer patients.
The SKMT, like many charitable organisations, established an endowment fund to provide financial stability and to cover long-term expenses.
This endowment fund is overseen by an investment committee, which makes all investment decisions based on its recommendations.
The Chairman has never, and will never, make an investment decision on his own.
Only non-Zakat funds are invested in this manner; all Zakat funds are used for direct patient care during the fiscal year in which they are collected.
In 2008, the endowment fund invested $3 million USD in an Oman real estate project.
The investment provided a 100% capital guarantee and allowed for an early exit. In 2015, the SKMT exercised its early termination option, and the full $3 million was recovered.
The public has already been provided with all relevant information regarding this investment and the full recovery of the trust’s funds on numerous occasions. It is important to note that, while the investment did not result in a profit for the Trust in dollars, it did in rupees because the difference in exchange rates mentioned in the preceding article benefited the SKMT.
All investments made by the SKMT and its Endowment Fund are duly audited and reported, and financial reports, like all other financial transactions, are made available to the public on the Shaukat Khanum website.
Both the initial investment and the subsequent return were disclosed in the organization’s financial reports, which are still publicly available.
Last but not least, complete records of all donations made to the SKMT are kept and duly audited by impartial third parties to ensure compliance with all applicable laws, not only in Pakistan but also in any other country where money is raised on our behalf or with the intention of supporting us.
Since more than three decades, our hospitals in Lahore and Peshawar have treated 45,000 to 50,000 cancer patients each year, thanks to the generosity of millions of donors, the majority of whom would not have been able to receive highly specialised cancer treatment elsewhere.
Because of its strong clinical, administrative, and governance structures, the Shaukat Khanum Memorial Trust, which includes all of its facilities in Lahore, Peshawar, and Karachi, became only the second organisation in the world to receive the prestigious Enterprise Accreditation from the US-based Joint Commission International in September 2022.
It should be noted that all contributions to the SKMCH&RC are used solely to carry out our mission of providing free cancer treatment to those who cannot afford it.
Playing with the lives of patients is what accusations and insinuations that seek to raise concerns in the minds of our donors about how their donations are used by the SKMCH&RC amount to. Despite the SKMT’s precarious financial situation.
The management remains steadfast in its commitment to not only provide cutting-edge, comprehensive cancer treatment to all of its patients.
But also to vigorously defend its well-earned and excellent reputation for financial prudence and transparency.
The cost of providing cancer care in accordance with international guidelines is steadily rising.