SMEDA High School

Pre-Feasibility Study

HIGH SCHOOL

Small and Medium Enterprise Development Authority

Government of Pakistan www.smeda.org.pk

HEAD OFFICE Waheed Trade Complex, 1st Floor , 36-Commercial Zone, Phase III, Sector XX, Khayaban-e-Iqbal, DHA Lahore

Tel: (042) 111-111-456, Fax: (042) 5896619, 5899756 [email protected]

REGIONAL OFFICE PUNJAB

REGIONAL OFFICE SINDH

REGIONAL OFFICE NWFP

REGIONAL OFFICE BALOCHISTAN

Waheed Trade Complex, 1st Floor, 36-Commercial Zone,

Phase III, Sector XX, Khayaban-e-Iqbal, DHA Lahore.

Tel: (042) 111-111-456 Fax: (042) 5896619, 5899756

[email protected]

5TH Floor, Bahria Complex II, M.T. Khan Road,

Karachi. Tel: (021) 111-111-456

Fax: (021) 5610572 [email protected]

Ground Floor State Life Building

The Mall, Peshawar. Tel: (091) 9213046-47


Bungalow No. 15-A Chaman Housing Scheme

Airport Road, Quetta. Tel: (081) 831623, 831702


July, 2002

Pre-Feasibility Study High School

PREF-50/August, 2002/Rev 1

1

DISCLAIMER

The purpose and scope of this information memorandum is to introduce the subject

matter and provide a general idea and information on the said area. All the material

included in this document is based on data/information gathered from various

sources and is based on certain assumptions. Although, due care and diligence has

been taken to compile this document, the contained information may vary due to any

change in any of the concerned factors, and the actual results may differ substantially

from the presented information. SMEDA does not assume any liability for any

financial or other loss resulting from this memorandum in consequence of

undertaking this activity. Therefore, the content of this memorandum should not be

relied upon for making any decision, investment or otherwise. The prospective user

of this memorandum is encouraged to carry out his/her own due diligence and gather

any information he/she considers necessary for making an informed decision.

The content of the information memorandum does not bind SMEDA in any legal or

other form.

DOCUMENT CONTROL

Document No. PREF-50

Revision 1

Prepared by SMEDA-Punjab

Approved by GM Punjab

Issue Date August, 2002

Issued by Library Officer



2

11 IINNTTRROODDUUCCTTIIOONN

11..11 PPrroojjeecctt BBrriieeff

This study describes the investment opportunity regarding setting up of high school in any big city of Pakistan to provide education to the children of medium and lower medium income group.1 The school can start its operation by starting classes from nursery to Matric (Secondary school).

By offering quality education and modern facilities, the school is expected to earn early recognition and parents trust and preference. The school can be opened in big cities like Karachi, Lahore, Islamabad, Peshawar, Quetta, Multan, Hyderabad, Faisalabad, etc. The area should be selected near the residents of medium income group.

11..22 PPrroojjeecctt CCoosstt

Initial project cost is Rs. 9.84 million

11..33 OOppppoorrttuunniittyy RRaattiioonnaallee

The importance of education for human resource development does not need any elucidation. Globally, it has been observed that countries attached the highest priority to education since the development of other sectors like health, agriculture and industry is dependent on the development of education in the country. The Government of Pakistan accepts education as fundamental right for its citizens as well as its commitment to provide access to education to every citizen. But the Government faces constraints due to limited financial resources to spend on education sector. Therefore, the private sector investment is being encouraged with various incentives to lower the burden of the Government.

During the fiscal year 2001-02, the total education budget is estimated to be Rs. 73.745 billion, including development budget of Rs. 8.770 billion and recurring budget of Rs 64.975 billion. The total budget for education for 2001-02 is 2.0% of the GDP. The education budget as percentage of GDP is given in Table below.

1 The information provided in this pre-feasibility study may be used for establishing such a school in any city of Pakistan. However, data on the existing schools has been provided for the province of Punjab only.



3

Table 1.1: National Education Budget during 1995-96 to 2001-02 (Rs. Billion)

Year Recurring Budget

Development Budget

Total Education Budget

% of GDP

1995-96 39.610 2.585 42.195 2.00

1996-97 40.536 1.968 42.504 2.62

1997-98 46.100 2.984 49.084 2.34

1998-99 46.979 2.427 49.406 2.40

1999-00 51.572 2.430 54.002 1.70

2000-01 54.396 1.966 56.362 1.60

2001-02 64.975 8.770 73.745 2.00

Source: Ministry of Education Although, traditionally, private schools have been a luxury only the rich can afford, this is not necessarily the case in the current re-emergence of the private sector in Pakistan's education system.

Keeping in view the significant and emerging role of the private sector in the promotion of education at various levels, the Government has introduced the concept of Public-Private Partnership. The suggested incentives to private sector educational institutions are:

Provision of free land, or land on concessional rates in rural/urban areas

Property tax exemption on school buildings

Exemption of 50% income tax to private sector institutions for their faculty, management and support staff

Utilities availability on non-commercial rates

Extension of matching grants for establishing rural schools

Exemption of custom duties on import of educational equipment

Undertaking necessary legislation to give Charter to private sector institutions and facilitating their day to day affairs

11..44 VViiaabbllee EEccoonnoommiicc SSiizzee

Since, it is a service sector project, there is no hard and fast criterion for viable economic size, rather it depends upon many factors like faculties needed infrastructure requirements, schools fixed overhead.

11..55 PPrrooppoosseedd CCaappaacciittyy

For the purpose of this feasibility study, strength of 750 students has been proposed. However, this capacity will be attained gradually in 10 years period as follows:



4

Table 1.2: Year wise Number of Students Students/Year Year

1 Year

2 Year

3 Year

4 Year

5 Year

6 Year

7 Year

8 Year

9 Year

10

Senior Section (V - X)

50 139 93 238 275 305 330 349 364 375

Junior Section (Nursery-IV)

100 139 193 238 275 305 330 349 364 375

Total Students 150 278 386 475 550 611 660 699 728 750

22 CCUURRRREENNTT IINNDDUUSSTTRRYY SSEECCTTOORR According to the Schools and Colleges Census for 2000-2001 there are 62,980 schools in the Punjab for boys and girls, where 276,325 teachers are providing education to around 8.838 million students.

The statistics collected by the Punjab Educational Management Information Systems (EMIS) during 1999-2000 showed that there were 61,507 boys and girls schools in the province where 315,154 teachers were imparting education to some 8.775 million students. According to above figures, only 63,000 students got admission to the Government schools last year, showing that more students are preferring private schools.

According to the Schools Census 2000-2001, there are 7,943 mosque schools, including 97 exclusively for girls, in the province. Gender wise breakup is given as under:

Table 2.1: Gender-wise breakup of Mosque Schools

Gender Mosque Schools

Students

Teachers

Students / Teacher

Boys 7,846 337,535 7,922 43

Girls 97 4,079 96 42

Total 7,943 341,614 8018 43

There are 50,295 primary and elementary schools having strength of 175,613 teachers and 5.692 million students on their rolls. Gender-wise break-up is as under:



5

TTaabbllee 22..22:: GGeennddeerr--wwiissee BBrreeaakkuupp ooff PPrriimmaarryy && EElleemmeennttaarryy SScchhoooollss

Gender Level Schools (No.)

Students (million)

Teachers (No.)

Students/ Teacher

Primary 21,357 2.419 64,499 38Boys

Elementary 2,558 0.703 25,750 27

Primary 22,711 1.755 54,870 32Girls

Elementary 3,669 0.815 30,494 27

Total 50,295 5.692 175,613 32

In the high and higher secondary schools category, there are 4,742 schools, 92,694 teachers and 2.804 million students. Gender wise breakup is given below:

Table 2.3: Gender-wise breakup of High & Higher Secondary Schools

Gender Level Schools (No.)

Students (million)

Teachers (No.)

Students/ Teacher

High 2,928 1.573 54,752 29Boys

Higher Secondary 172 0.132 5,492 24

High 1,502 0.957 28,294 34Girls

Higher Secondary 140 0.142 4,156 34

Total 4,742 2.804 92,694 30

Working on the compilation of private schools census in the province has not yet been completed.

Table 2.4: Educational Statistics during 2001-2002

Level Institutions Enrolment Teachers Students / Teacher

Primary 169,087 19,921,232 345,457 58

Middle 19,180 4,278,392 99,098 43

Secondary 13,108 1,795,444 66,522 27

Higher Secondary 682 86,674 16,731 5

Secondary Vocational 498 88,000 6,582 13

Colleges 789 956,468 35,325 27

Universities 68 1,100,000 6,000 183

IT (BCS/MCS) 27 22,058 337 65

Source: Ministry of Education.



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Table 2.5: Participation and Survival Rate

Total % Male % Female % Literacy Rate 47.1 59 35.4

Gross Enrolment Rate Classes I-V 89 99 89

Survival Rate to Class V 50 66 44

Participation Middle Classes VI-VIII 47.5 55 40

Participation Secondary Classes IX-X 29.5 35 24

Participation Higher Education 2.6

Economic Survey

33 MMAARRKKEETT AANNAALLYYSSIISS The proposed school will cater to the needs of children of medium income group. Currently three categories of schools are being run in Pakistan the schools, which cater to the three main segments of the market, mainly higher medium and low-income group family. The schools, which serve the high-income groups, are running in the private sector. They usually charge high fees in the range of Rs. 3000 to Rs. 8,000 per month per student e.g. Lahore American School, The City School, Lahore Lyceum and Aitcheson etc. These schools have large facilities, enjoy repute due to their modern system of education by using scientific techniques and have qualified and specialized faculty. Most private schools fall in the second category having fee range from Rs. 500 to Rs. 3000. The third category (medium range) provides facilities even less than the minimum required. These schools have less space per student (minimum required 12 sq. ft. per student for the recognition of the institute by the Board of Intermediate and Secondary Education Lahore) and high students teacher ratio.

There is stiff competition amongst the school running in the market. The parents are curious about the future of their children so they think extensively before admitting their children in any school. Following are the main factors (not conclusive) on the basis of which parents make choice of schools.

1. Distance from home 2. School track record/history 3. General reputation 4. Fees 5. Qualification and experience of the head of school and other faculty. 6. Physical infrastructural facilities. 7. Courses offered and medium of instruction.

Besides the above, there are some other subjective, social and status considerations which also play an important role in making decision.



7

44 MMAANNPPOOWWEERR RREEQQUUIIRREEMMEENNTT Number of teachers & other staff required at first year (Year 1)

Positions Number Salary/month(Rs.)

Annual Salary (Rs.)

Faculty Members:

Subject Specialist 0 7,000

Senior Teacher 2 5,500 132,000

Junior Teacher 4 4,000 192,000

Administrative Staff

Principal 1 10,000 120,000

Accountant 1 5,000 60,000

Private Secretary 1 4,000 48,000

Librarian 1 3,000 36,000

Helpers / Peon 4 2,000 96,000

Maintenance Staff

Guards 2 3,000 72,000

Electrician / Plumber 2 2,000 48,000

Cleaner 1 1,000 12,000

Total: 19 816,000



8

55 FFUURRNNIITTUURREE//EEQQUUIIPPMMEENNTT RREEQQUUIIRREEMMEENNTT Based on Second Years Capacity

FURNITURE & EQUIPMENTS Quantity Price (Rs.) Amount (Rs)

Computers 20 20,000 400,000Printers (Laser ) 1 20,000 20,000Printers (Dot Matrix) 1 7,500 7,500

UPS 2 8,500 17,000

Electrical & Other Equipment - - 422,022

Science Labs (Instruments) - - 150,000

Furniture & Fixture - - 947,450

Total 1,963,972

66 LLAANNDD AANNDD BBUUIILLDDIINNGG

66..11 LLaanndd

The Lahore Development Authority (LDA) has allocated lands for construction of schools in Lahore. The list of the plots, together with reserve price as 1/3rd of market rate, is being annexed. For the purpose of this pre-feasibility study, 3 Kanal of land has been recommended with the reserve price of Rs. 2,260,000. The District Government Lahore has decided to retain 30% land earmarked for construction of schools in LDA schemes. The remaining 70% would be auctioned to facilitate the construction of private schools2.

However, for the purpose of this study, the option of getting a building for school on rent has been recommended.

2 Dawn, Lahore, dated June 23, 2002.



9

66..22 BBuuiillddiinngg

Area (Sq. Ft)

Construction cost

(Rs/sq. ft)

Total Cost(Rs)

Main Building

Ground Floor

Administrative Block and Junior Branch (Ground Floor)

3,340.70 325 1,085,728

Junior Branch (1st Floor) 2,378.75 325 773,094

Senior Branch

Ground Floor 4,743 .20 325 1,541,540

1st Floor 3,808.20 325 1,237,665

Open Space for play ground and boundary walls

5,416.10 100 541,610

Total building cost 5,179,636

Total area of School plot 13,500.00 2,260,000

Total Land & Building Cost 7,439,636

Though ideally, a purpose built building can best suit a school, however any building with the required space in a peaceful environment can be rented out for the purpose.



10

77 SSWWOOTT AANNAALLYYSSIISS

77..11 SSttrreennggtthhss

Low Student teacher ratio (less than 20 students/teacher at full capacity) Reasonable space per student (12 sq. ft per student) Helping and guiding attitude of teachers Competent teaching faculty Dynamic Leadership Well maintained order and discipline Environment conducive to joyful learning Availability of adequate facilities

77..22 WWeeaakknneessss

Difficulty in building confidence of the community

77..33 OOppppoorrttuunniittiieess

Government incentives and policies conducive for private investment in education sector

Gap between number of school going age children and actual enrolments in schools

Availability of liquid cash due to advance collection of fees General public awareness (especially in urban areas) about importance of

education

77..44 TThhrreeaattss

Initially poor intake of students Operating loss in the initial year due to unabsorbed fixed cost Difficult in building confidence of the community

88 RREEGGUULLAATTIIOONNSS The schools are required to be registered with the Education Department (Provincial) in the office of Education Directorate Schools. The application is to be submitted on a prescribed form and can be obtained from the department.

The next process is the recognition of institution from the relevant Board of Intermediate and Secondary Education (BISE). The detailed regulations, rules and requirement of minimum infrastructural facilities along with application form can be obtained from the BISE office.



11

99 FFIINNAANNCCIIAALL AANNAALLYYSSIISS

DESCRIPTION Rupees

Land 2,260,000

Building 5,179,636

Furniture & Fixtures 947,450

Air Conditioners & Electrical Items 422,140

Science Labs 150,000

Computer Labs 474,500

Library Books 50,000

9,483,726

Preliminary Cost (5%) other than Land 361,186

9,844,913

Financed By:

Sponsors Equity 50% 4,922,456

Bank Finance 50% 4,922,456 9,844,913

9.1 Initial Project Cost



12

9.2 Project Cost DetailsTotal CostIn Rupees

Land 2,260,000

Buildings: (Refer area sheet) 5,179,636

Per Unit Units RupeesFurniture & Fixtures:

Carpets (Refer carpet working) 29,000 Office Furniture 250,000 White Board for Class Rooms & Notice 800 24 19,200 Class Room Furniture:

Chairs steel 500 278 138,750 Desks 1,000 278 277,500

Teachers:Chairs 750 8 6,000 Tables 1,500 8 12,000

Library:Book Shelf 5,000 10 50,000 Furniture 2,500 20 50,000

Laboratory tables 3,500 10 35,000 Computer table wooden 2,500 20 50,000 Computer Chairs 1,000 30 30,000 947,450

Electrical & Other Equipments:Air Conditioners (Refer air conditioners working) 110,000 Fire Extinguish System 2,000 4 8,000 Tube Lights 260 89 23,140 Fans 2,000 62 124,000 Exhaust fans 1,300 15 19,500 Wall clocks 400 10 4,000 Vacuum Cleaners 8,500 1 8,500 Water Coolers 10,000 2 20,000 Telephone Sets 1,000 5 5,000 Electricity Connection 100,000 1 100,000 422,140

Science Labs (Instruments) 50,000 3 150,000 150,000 Computers

Computers 20,000 20 400,000 Server 30,000 1 30,000 Printers

Dot Matrix 7,500 1 7,500 Laser 20,000 1 20,000

UPS 8,500 2 17,000 474,500 Library Books 50,000 Sub Total 9,483,726 Preliminary Cost 5% other than Land 361,186 Grand Total 9,844,913

Items


PREF-50/August 2002/Rev 1

13

Year - I Year - II Year - III Year - IV Year - V Year - VI Year - VII Year - VIII Year - IX Year - XRs. '000' Rs. '000' Rs. '000' Rs. '000' Rs. '000' Rs. '000' Rs. '000' Rs. '000' Rs. '000' Rs. '000'

Fixed Assets:Land 2,260 2,260 2,260 2,260 2,260 2,260 2,260 2,260 2,260 2,260

Buildings 4,921 4,675 4,441 4,219 5,433 5,161 4,903 4,658 4,425 4,204

Furniture & Fixtures 568 796 851 901 946 986 1,023 1,056 1,085 1,111

Elec. & other Equipments 429 322 241 181 322 242 181 136 102 76

Computer Equipment 212 248 166 111 75 368 246 165 111 74

Library Books 40 32 26 60 48 39 71 57 45 76

Preliminary Cost 289 231 185 148 118 95 76 61 48 39

Total Fixed Assetsat Written Down Value 8,719 8,563 8,170 7,881 9,202 9,151 8,760 8,392 8,077 7,841

Cash in Hand / Bank 100 100 100 1,149 455 423 2,015 5,154 10,382 17,860

Total 8,819 8,663 8,270 9,030 9,657 9,574 10,775 13,546 18,458 25,701

Owners Equity 4,922 4,922 4,922 4,922 4,922 4,922 4,922 4,922 4,922 4,922

Accumulated Profit/(Loss) (1,370) (1,429) (165) 2,576 4,074 3,886 4,994 7,681 12,519 19,702

Long Term Loan 3,938 2,953 1,969 984 - - - - - -

Short Term Running Finan. 1,179 1,925 1,120 - - - - - - -

Students Security 150 291 423 547 661 765 859 943 1,017 1,077

8,819 8,663 8,270 9,030 9,657 9,574 10,775 13,546 18,458 25,701

9.3 Projected Balance Sheet



14


RevenueNet Fee Income 1,683 3,488 5,558 8,050 11,033 14,586 18,803 23,788 29,665 36,573

ExpendituresSenior Administration Salaries 120 126 132 139 146 153 161 169 177 186

Faculty Salaries 307 592 747 1,111 1,575 1,953 2,115 2,313 2,500 2,625

Administration Salaries 240 252 291 306 321 337 386 405 426 447

Maintenance Staff Salaries 138 164 172 181 190 199 209 220 230 242

Other Expenses 746 889 1,086 1,287 1,363 1,441 1,522 1,605 1,691 1,779

Depreciation 652 630 543 489 577 676 590 518 465 436 2,203 2,652 2,972 3,513 4,171 4,759 4,983 5,230 5,489 5,714

Financial / Mark-up ChargesMark-up on Running Finan. 212 347 202 - - - - - - Bank Loan 842 665 487 310 133 - - - - -

842 877 834 512 133 - - - - - Total Expenditure 3,045 3,529 3,806 4,024 4,304 4,759 4,983 5,230 5,489 5,714

Net Profit/(Loss) before Tax (1,362) (41) 1,753 4,026 6,728 9,827 13,820 18,558 24,176 30,859

Taxation 8 17 489 1,284 2,230 3,315 4,712 6,371 8,337 10,676

Net Profit/(Loss) after Tax (1,370) (58) 1,264 2,741 4,498 6,512 9,107 12,187 15,839 20,183

Withdrawal of profit (Drawings) - - - - 3,000 6,700 8,000 9,500 11,000 13,000(1,370) (58) 1,264 2,741 1,498 (188) 1,107 2,687 4,839 7,183

Accumulated Profit/(Loss) b/f - (1,370) (1,429) (165) 2,576 4,074 3,886 4,994 7,681 12,519Accumulated Profit/(Loss) c/f (1,370) (1,429) (165) 2,576 4,074 3,886 4,994 7,681 12,519 19,702

* Tax rate is charged as required for Association of Persons.

9.4 Projected Profit & Loss Account



15


Profit/(Loss) from operations (1,362) (41) 1,753 4,026 6,728 9,827 13,820 18,558 24,176 30,859Financial Charges 842 665 487 310 133 0 0 0 0 0Depreciation 652 630 543 489 577 676 590 518 465 436

132 1,253 2,783 4,825 7,438 10,503 14,410 19,076 24,641 31,294Sources of Funds Owners: - - - - - - - - - - - Land 2,260 - - - - - - - - - - Equity 2,662 - - - - - - - - - Students Security 150 141 132 123 114 104 94 84 73 60 Bank Finance 4,922 - - - - - - - - -

9,995 141 132 123 114 104 94 84 73 60

Total Sources 10,126 1,394 2,916 4,949 7,552 10,607 14,504 19,160 24,714 31,355Application of FundsCapital Expenditure 9,371 474 150 200 1,899 625 200 150 150 200 Taxation 8 17 489 1,284 2,230 3,315 4,712 6,371 8,337 10,676 Drawings - - - - 3,000 6,700 8,000 9,500 11,000 13,000 Re-payment of Loan 1,826 1,649 1,472 1,295 1,117 - - - - - Re-payment to Shrt. Term Run. Finan. 1,179 1,925 1,120 - - - - - -

11,206 3,320 4,036 3,899 8,246 10,639 12,912 16,021 19,487 23,876

Cash Increase/(Decrease) (1,079) (1,925) (1,120) 1,049 (694) (32) 1,592 3,139 5,227 7,478Opening Balance - 100 100 100 1,149 455 423 2,015 5,154 10,382Cash Balance (1,079) (1,825) (1,020) 1,149 455 423 2,015 5,154 10,382 17,860Short Term Loan 1,179 1,925 1,120 0 0 0 0 0 0 0Closing Balance 100 100 100 1,149 455 423 2,015 5,154 10,382 17,860

9.5 Projected Cash Flow



16

9.6 Fee Income

Per Student No. Rupees





Number of StudentsNew 150 135 122 109 98 Old - 143 264 366 451

150 278 385 475 550 Non-Operating Revenue

Security (Refundable) 1,000 150,000 1,100 148,500 1,210 147,015 1,331 145,545 1,464 144,089

Registration Fee 1,000 150,000 1,100 148,500 1,210 147,015 1,331 145,545 1,464 144,089 Admission Fee 1,500 225,000 1,650 222,750 1,815 220,523 1,997 218,317 2,196 216,134

375,000 371,250 367,538 363,862 360,224 Operating Revenue

Monthly FeeJunior Branch

150 Nursery to Prep 600 50 360,000 720 56 479,520 864 77 798,595 1,037 95 1,182,496 1,244 110 1,641,911 300 I to IV 750 60 540,000 900 111 1,198,800 1,080 154 1,996,488 1,296 190 2,956,241 1,555 220 4,104,779 450 110 900,000 167 1,678,320 231 2,795,083 285 4,138,737 330 5,746,690

Senior Branch 1200 V to VIII 850 40 408,000 1,020 74 905,760 1,224 103 1,508,458 1,469 127 2,233,604 1,763 147 3,101,388 100 IX to X (Matric) 1,000 - - 1,200 37 532,800 1,440 51 887,328 1,728 63 1,313,885 2,074 73 1,824,346 300 40 408,000 111 1,438,560 154 2,395,786 190 3,547,489 220 4,925,734

750 Net Fee 150 1,683,000 278 3,488,130 385 5,558,406 475 8,050,088 550 11,032,648

Year - VYear - I Year - II Year - III Year - IV



17

Fee Income (continued)






Number of StudentsNew 89 80 72 65 58 Old 522 580 627 664 692

611 660 699 728 750 Non-Operating Revenue

Security (Refundable) 1,611 142,649 1,772 141,222 1,949 139,810 2,144 138,412 2,358 137,028

Registration Fee 1,611 142,649 1,772 141,222 1,949 139,810 2,144 138,412 2,358 137,028 Admission Fee 2,416 213,973 2,657 211,833 2,923 209,715 3,215 207,618 3,537 205,541

356,621 353,055 349,525 346,029 342,569 Operating Revenue

Monthly FeeJunior Branch

150 Nursery to Prep 1,493 122 2,189,154 1,792 132 2,838,400 2,150 140 3,605,962 2,580 146 4,510,598 3,096 150 5,573,867 300 I to IV 1,866 244 5,472,885 2,239 264 7,096,001 2,687 280 9,014,906 3,225 291 11,276,495 3,870 300 13,934,667 450 367 7,662,039 396 9,934,401 419 12,620,868 437 15,787,093 450 19,508,534

Senior Branch200 V to VIII 2,115 163 4,135,068 2,538 176 5,361,423 3,046 186 6,811,262 3,655 194 8,520,018 4,386 200 10,528,415 100 IX to X (Matric) 2,488 81 2,432,393 2,986 88 3,153,778 3,583 93 4,006,625 4,300 97 5,011,776 5,160 100 6,193,185 300 244 6,567,462 264 8,515,201 280 10,817,887 291 13,531,794 300 16,721,600

750 Net Fee 611 14,586,122 660 18,802,657 699 23,788,280 728 29,664,916 750 36,572,703

Year - XYear - VI Year - VII Year - VIII Year - IX



18

9.7 Estimated Recurring Expenditure

No. Monthly Total for the

Year No. Monthly Total for the

Year No. MonthlyTotal for the Year



Year (Rupees) (Rupees) (Rupees) (Rupees) (Rupees)

Salary & Allowances

Principal 1 10,000 120,000 1 10,500 126,000 1 11,025 132,300 1 11,576 138,915 1 12,155 145,861 1 120,000 1 126,000 1 132,300 1 138,915 1 145,861

Faculty Member:Subject Specialist - 7,000 - 2 7,350 176,400 2 7,718 185,220 4 8,103 388,962 6 8,509 612,615 Senior Teachers 2 5,500 105,600 2 5,775 138,600 3 6,064 218,295 4 6,367 305,613 4 6,685 320,894 Junior Teachers 4 4,000 201,600 6 4,200 277,200 7 4,410 343,980 8 4,631 416,745 11 4,862 641,787

6 307,200 10 592,200 12 747,495 16 1,111,320 21 1,575,296 Ministerial Staff :

Accountant 1 5,000 60,000 1 5,250 63,000 1 5,513 66,150 1 5,788 69,458 1 6,078 72,930 Private Secretary 1 4,000 48,000 1 4,200 50,400 1 4,410 52,920 1 4,631 55,566 1 4,862 58,344 Librarian 1 3,000 36,000 1 3,150 37,800 1 3,308 39,690 1 3,473 41,675 1 3,647 43,758 Helpers / Peon 4 2,000 96,000 4 2,100 100,800 5 2,205 132,300 5 2,315 138,915 5 2,431 145,861

7 240,000 7 252,000 8 291,060 8 305,613 8 320,894 Maintenance Staff :

Guards 2 3,000 72,000 2 3,150 75,600 2 3,308 79,380 2 3,473 83,349 2 3,647 87,516 Elect./Plumber 2 2,000 48,000 2 2,100 50,400 2 2,205 52,920 2 2,315 55,566 2 2,431 58,344 Cleaner 1 1,500 18,000 2 1,575 37,800 2 1,654 39,690 2 1,736 41,675 2 1,823 43,758

5 138,000 6 163,800 6 171,990 6 180,590 6 189,619 Total Staff 19 805,200 24 1,134,000 27 1,342,845 31 1,736,438 36 2,231,669



Year No. Total for the Year




Other Operating Expenses :Printing & Stationery 10,000 10,500 11,025 11,576 12,155 News Papers & Periodicals 500 525 12,000 12,600 13,230 Utilities ( Tele. Elect. Gas. Water etc.) 430,730 452,267 474,880 498,624 523,556 Postage 12,000 12,600 30,000 31,500 33,075 Misc. Office Exp. 24,000 25,200 26,460 27,783 29,172 Advertisement (Lump Sum) 60,000 54,000 48,600 43,740 39,366 Laboratory Expenses - 60,000 63,000 66,150 69,458 Sports Expenses - 12,000 36,000 72,000 75,600 Repair & Maintenance - 30,000 60,000 63,000 66,150 Medical Expenses - 12,000 24,000 25,200 26,460 School Magazine - - 69,323 92,668 115,473 Gardening Expenses 6,000 6,300 6,615 6,946 7,293 Consultancy Charges & Audit Fee 50,000 52,500 55,125 57,881 60,775 Students Function (Lump Sum) - - - 100,000 105,000 Sub Total 593,230 727,892 917,028 1,109,668 1,176,763 Total 1,398,430 1,861,892 2,259,873 2,846,106 3,408,432

Year - IV Year - V

Administration:

Year - I Year - II Year - III

Year - III Year - IV Year - VYear - I Year - II



19

Estimated Recurring Expenditure (continued)



Year No. MonthlyTotal for the Year




Salary & Allowances

Principal 1 12,763 153,154 1 13,401 160,811 1 14,071 168,852 1 14,775 177,295 1 15,513 186,159 1 153,154 1 160,811 1 168,852 1 177,295 1 186,159

Faculty Member:Subject Specialist 8 8,934 857,661 8 9,381 900,544 8 9,850 945,571 8 10,342 992,850 8 10,859 1,042,493 Senior Teachers 5 7,020 421,173 5 7,371 442,232 6 7,739 557,212 6 8,126 585,072 6 8,532 614,326 Junior Teachers 11 5,105 673,877 12 5,360 771,895 12 5,628 810,490 13 5,910 921,932 13 6,205 968,029

24 1,952,711 25 2,114,671 26 2,313,273 27 2,499,855 27 2,624,847 Ministerial Staff :

Accountant 1 6,381 76,577 1 6,700 80,406 1 7,036 84,426 1 7,387 88,647 1 7,757 93,080 Private Secretary 1 5,105 61,262 1 5,360 64,325 1 5,628 67,541 1 5,910 70,918 1 6,205 74,464 Librarian 1 3,829 45,946 1 4,020 48,243 1 4,221 50,656 1 4,432 53,188 1 4,654 55,848 Helpers / Peon 5 2,553 153,154 6 2,680 192,974 6 2,814 202,622 6 2,955 212,754 6 3,103 223,391

8 336,938 9 385,948 9 405,245 9 425,507 9 446,783 Maintenance Staff :

Guards 2 3,829 91,892 2 4,020 96,487 2 4,221 101,311 2 4,432 106,377 2 4,654 111,696 Elect./Plumber 2 2,553 61,262 2 2,680 64,325 2 2,814 67,541 2 2,955 70,918 2 3,103 74,464 Cleaner 2 1,914 45,946 2 2,010 48,243 2 2,111 50,656 2 2,216 53,188 2 2,327 55,848

6 199,100 6 209,055 6 219,508 6 230,483 6 242,007

Total Staff 39 2,641,903 41 2,870,485 42 3,106,878 43 3,333,139 43 3,499,796



Year No. Total for the Year




Other Operating Expenses :12,763 13,401 14,071 14,775 15,513

Printing & Stationery 13,892 14,586 15,315 16,081 16,885 News Papers & Periodicals 549,733 577,220 606,081 636,385 668,204 Utilities ( Tele. Elect. Gas. Water etc.) 34,729 36,465 38,288 40,203 42,213 Postage 30,631 32,162 33,770 35,459 37,232 Misc. Office Exp. 35,429 31,886 28,698 25,828 23,245 Advertisement (Lump Sum) 72,930 76,577 80,406 84,426 88,647 Laboratory Expenses 79,380 83,349 87,516 91,892 96,487 Sports Expenses 69,458 72,930 76,577 80,406 84,426 Repair & Maintenance 27,783 29,172 30,631 32,162 33,770 Medical Expenses 137,464 158,429 178,209 196,691 213,800 School Magazine 7,658 8,041 8,443 8,865 9,308 Gardening Expenses 63,814 67,005 70,355 73,873 77,566 Consultancy Charges & Audit Fee 110,250 115,763 121,551 127,628 134,010 Students Function (Lump Sum) 1,245,914 1,316,986 1,389,911 1,464,674 1,541,308 Sub Total

3,887,816 4,187,471 4496789.108 4,797,814 5041103.993Total 4,121,987 4,532,587 4,828,433 5,125,022 5,423,030

Year - IX Year - X

Year - VI Year - VII Year - VIII Year - IX Year - X

Year - VI Year - VII Year - VIII

Administration:



20

9.8 Depreciation of Fixed Assets (000' Rupees)Items Cost Rate Addition Dep. W.D.V. Addition Dep. W.D.V. Addition Dep. W.D.V. Addition Dep. W.D.V. Addition Dep. W.D.V.

Land 2,260 Nil - Nil 2,260 - Nil 2,260 - Nil 2,260 - Nil 2,260 - Nil 2,260

Buildings 3,453 5% 1,727 259 4,921 - 246 4,675 - 234 4,441 - 222 4,219 1,500 286 5,433

Furniture & Fix. 316 10% 316 63 568 316 88 796 150 95 851 150 100 901 150 105 946

Elec. & other Equipments 572 25% - 143 429 - 107 322 - 80 241 - 60 181 249 107 322

Computer Equipment 158 33% 158 104 212 158 122 248 - 82 166 - 55 111 - 37 75

Library books 50 20% - 10 40 - 8 32 - 6 26 50 15 60 - 12 48

Preliminary Cost 361 20% - 72 289 - 58 231 - 46 185 - 37 148 - 30 118

Total 7,170 2,201 652 8,719 474 630 8,563 150 543 8,170 200 489 7,881 1,899 577 9,202

Year - VYear - II Year - IIIYear - 0 Year - I Year - IV

Items Addition Dep. W.D.V. Addition Dep. W.D.V. Addition Dep. W.D.V. Addition Dep. W.D.V. Addition Dep. W.D.V.

Land - Nil 2,260 - Nil 2,260 - Nil 2,260 - Nil 2,260 - Nil 2,260

Buildings - 272 5,161 - 258 4,903 - 245 4,658 - 233 4,425 - 221 4,204

Furniture & Fix. 150 110 986 150 114 1,023 150 117 1,056 150 121 1,085 150 123 1,111

Elec. & other Equipments - 81 242 - 60 181 - 45 136 - 34 102 - 25 76

Computer Equipment 475 181 368 - 121 246 - 81 165 - 54 111 - 37 74

Library books - 10 39 50 18 71 - 14 57 - 11 45 50 19 76

Preliminary Cost - 24 95 - 19 76 - 15 61 - 12 48 - 10 39

Total 625 676 9,151 200 590 8,760 150 518 8,392 150 465 8,077 200 436 7,841

Year - XYear - VI Year - VII Year - VIII Year - IX

Note: WDV stands for written-down value



21

Principal 4,922,456 50%Term 5 Years (10 Installments)Markup 18% 9% (arrear)

Year InstallmentsPrincipal Outstanding

Outstanding Installments

Grace period - 4,922,456 7,359,072 Grace period - 4,922,456 7,359,072

492,246 443,021 935,267 4,430,211 6,423,805 492,246 984,491 398,719 841,740 890,965 3,937,965 5,532,841 492,246 354,417 846,662 3,445,719 4,686,178 492,246 984,491 310,115 664,532 802,360 2,953,474 3,883,818 492,246 265,813 758,058 2,461,228 3,125,760 492,246 984,491 221,511 487,323 713,756 1,968,983 2,412,004 492,246 177,208 669,454 1,476,737 1,742,550 492,246 984,491 132,906 310,115 625,152 984,491 1,117,398 492,246 88,604 580,850 492,246 536,548 492,246 984,491 44,302 132,906 536,548 0 -

4,922,456 2,436,616 7,359,072

9.9 Loan Repayment Schedule

4th Year

5th Year

Principal Financial Charges

1st Year

2nd Year

3rd Year



22

Building:

Main BuildingGround Floor

Administrative Block Sqft. Units AreaPrincipal 150 1 150 Vice Principal 100 1 100 Accounts Office / Private Secretary 100 1 100 Kitchen 50 1 50 Lobby 225 1 225 Store 100 1 100 Toilet 36 2 72

Academic Block (Junior Branch)Class Rooms 250 5 1,250 Staff Room 150 1 150 Toilet:

Students 100 2 200 Faculty 20 2 40

Space for Corridors & Stairs 600 600 Inner area occupied 3,037 10% wall area 304

Rate/Sqft. 325 3,341 1,085,728

Junior Branch1st Floor Sqft. Units Area

Class Rooms 315 5 1,573 Staff Room 150 0 - Toilet:

Students 150 1 150 Faculty 20 2 40

Space for Corridors & Stairs 400 400 Inner area occupied 2,163 10% wall area 216 Total area occupied Rate/Sqft. 325 2,379 773,094 Total for Administrative & Junior Branch 5,719 1,858,821

9.10 Area Occupied

Total Covered Area



23

Senior BranchGround Floor Sqft. Units Area

Class Rooms 315 6 1,887 Staff Room 150 1 150 Toilet:

Students 150 3 450 Faculty 20 0 -

Laboratory 375 3 1,125 Space for Corridors & Stairs 700 700 Inner area occupied 4,312 10% wall area 431

Total area occupied Rate/Sqft. 325 4,743 1,541,540

1st Floor Sqft. Units AreaClass Rooms 315 6 1,887 Toilet:

Students 150 2 300 Faculty 20 0 -

Library 375 1 375 Computer Lab 300 1 300 Space for Corridors & Stairs 600 600 Inner area occupied 3,462 10% wall area 346 Total area occupied Rate/Sqft. 325 3,808 1,237,665

Total for Senior Branch 8,551 2,779,205

Development for Play Ground & Boundary Wall Rate/Sqft. 100 5,416 541,610

Total 14,271 5,179,636

* Spaces for classes & Laboratory are in accordance with the board requirment.

Total Covered Area

Total Covered Area

Area Occupied (Continued)



24

9.11 Teachers

Subj. Sec. as Period No. Subj. Sec.as Period No. Subj. Sec.as Period No. Subj. Sec.as Period No. Subj. Sec.as Period No.

Faculty Members:Subject Specialist 0 2 2 4 6Senior Teacher 2 2 3 4 4Junior Teacher 4 6 7 8 11

6 10 12 16 21

Standard teacher required :Senior Classes ( Class V - X)Number of students 40 111 154 190 220Students in a class 25 2 25 4 25 6 25 8 25 8.8

Junior Classes (Class Nursery - IV)Number of students 110 167 231 285 330Students in a class 25 4 25 7 25 9 25 11 25 13

Year - I Year - II Year - III Year - IV Year - V

Subj. Sec. as Period No. Subj. Sec.as Period No. Subj. Sec.as Period No. Subj. Sec.as Period No. Subj. Sec.as Period No.

Faculty Members:Subject Specialist 8 8 8 8 8Senior Teacher 5 5 6 6 6Junior Teacher 11 12 12 13 13

24 25 26 27 27

Standard teacher required :Senior Classes ( Class V - X)Number of students 244 264 280 291 300Students in a class 25 10 25 11 25 11 25 12 25 12

Junior Classes (Class Nursery - IV)Number of students 367 396 419 437 450Students in a class 25 15 25 16 25 17 25 17 25 18

Year - IX Year - XYear - VI Year - VII Year - VIII



25

Sqft. Units Ton No. Per unit Cost (Rupees)1.5 Ton (Window type)

Principal 150 1 150 1.5 1 25,000 25,000 Accounts Office 100 1 100 1.5 1 25,000 25,000

22.0 Ton (Window type)

Library 375 1 375 2.0 1 30,000 30,000 Computer Lab 300 1 300 2.0 1 30,000 30,000

2

Total 4 110,000

Area Occupied

9.12 Required Air Conditioners



26

Items No.Load / Item

watts Total Load watts Total KW

Air Conditioner1.5 tons 2 2400 4800 4.802.0 tons 2 3000 6000 6.00

Tube Lights 89 40 3542 3.54

Ceiling Fans 62 100 6200 6.20

Water Coolers 2 2000 4000 4.00

Vacum Cleaner 1 2000 2000 2.00

Computers & Equipment 21 600 12600 12.60

Printers 2 350 700 0.70

Total Kilo Watts 39.84

Working hours / Day 8

Working hours / Year 1760

Kilo Watts Hours 70,122

Cost of Electricity @ Rs. 6.00 (avg) 420,730 ( Tariff A-I )

The average working days are assumed to be 220

9.13 Power Load Working



27

9.14 Financial Analysis

Pay back period (Total Project Cost prospective)000' Rupees

Initial investment investment year investment at the beginning cash flows at the end

0 9,845 1 9,845 (926) 10,771 2 10,771 (1,584) 12,355 3 12,355 (629) 12,984 4 12,984 1,713 11,272 5 11,272 2,427 8,845 6 8,845 6,795 2,050 7 2,050 9,725 (7,675) 8 (7,675) 12,779 (20,454) 9 (20,454) 16,374 (36,829)

10 (36,829) 20,633 (57,461)

6.30 years

Net Present Value (Total Project Cost Prospective)

year cash flows PVFI at Present value23%

0 (9,845) 1.0000 (9,845) 1 (926) 0.8130 (753) 2 (1,584) 0.6610 (1,047) 3 (629) 0.5374 (338) 4 1,713 0.4369 748 5 2,427 0.3552 862 6 6,795 0.2888 1,962 7 9,725 0.2348 2,283 8 12,779 0.1909 2,439 9 16,374 0.1552 2,541

10 20,633 0.1262 2,603

Net present value 1,456



28

Financial Analysis (Continued)

Net Present Value (Invester's Cost Prospective)cash flows PVFI at Present value

year 25%

(4,922) 1.0000 (4,922) 0 (926) 0.8004 (741) 1 (1,584) 0.6406 (1,015) 2 (629) 0.5127 (323) 3 1,713 0.4103 703 4 2,427 0.3284 797 5 6,795 0.2628 1,786 6 9,725 0.2104 2,046 7 12,779 0.1684 2,152 8 16,374 0.1348 2,207 9 20,633 0.1079 2,225

10Net present value 4,914

Internal Rate of Return ( IRR )cash flows PVFI at PVFI at Present value

year 20% 25% 20%

(9,845) 1.0000 1.0000 (9,845) 0 (926) 0.8333 0.8000 (772) 1 (1,584) 0.6944 0.6400 (1,100) 2 (629) 0.5787 0.5120 (364) 3 1,713 0.4823 0.4096 826 4 2,427 0.4019 0.3277 975 5 6,795 0.3349 0.2621 2,276 6 9,725 0.2791 0.2097 2,714 7 12,779 0.2326 0.1678 2,972 8 16,374 0.1938 0.1342 3,173 9 20,633 0.1615 0.1074 3,332

10Net present value 4,188

IRR 24.94%



29

9.15 Required Carpets.Total

Administrative BlockPrincipal 150 1 150 Private Secretary 100 1 100 Accounts Office 100 1 100 Academic BlockLibrary 375 1 375

Rate per sq 40 725 29,000



30

9.16 Subject detail

Subjects I II III IV V VI VII VIII IX XUrduEnglishMathsComputer sciencesScienceArtPak. StudiesGeographyHistoryIslamyatPhysicsChemistryBiology/ComputerArabic

Classes



31

99..1177 LLiisstt ooff PPlloottss RReesseerrvveedd ffoorr SScchhoooollss bbyy LLaahhoorree DDeevveellooppmmeenntt AAuutthhoorriittyy

Plot

Approximate Reserve price of 1/3rd of market rate according to prevailing assessment. P & C will re-assess at the time of allotment.

Sr # No. Block Area Scheme Amount in Rs.1 658 D 3Kanal Johar Town-Ph.I 2,260,000 2 308-A E 30 Kanal Johar Town-Ph.I 22,600,000 3 416 E/2 20K-5-M Johar Town-Ph.I 15,255,000 4 364 E/1 30K Johar Town-Ph.I 22,600,000 5 254 F/1 13K-8M-70Sqf. Johar Town-Ph.I 10,106,385 6 302 F/2 35K-16M-70Sft Johar Town-Ph.I 26,981,051 7 308 C 21K-16M Johar Town-Ph.I 16,422,666 8 389 B/3 14K-7M Johar Town-Ph.I 10,810,333 9 95 H/3 21K-1M Johar Town-Ph.I 15,857,667

10 303 H/3 14K Johar Town-Ph.II 10,546,667 11 304 H/3 14K-7M Johar Town-Ph.II 10,810,333 12 153 J/1 5K Johar Town-Ph.II 3,766,667 13 51 J/3 26K-10M Johar Town-Ph.II 19,963,333 14 537 K 17K-5M Johar Town-Ph.II 12,995,000 15 225 R/2 10K Johar Town-Ph.II 7,533,333 16 238-A R/2 11K-14M Johar Town-Ph.II 8,814,000 17 390-D A 3001.50Sqm. Sabzazar 2,429,785 18 435-A B/3 5766.75Sqm. Sabzazar 4,668,319 19 504-D C Not demarked Sabzazar - 20 213-A E 12450 Sqm. Sabzazar 10,078,565 21 270-A E 5591 Sqm. Sabzazar 4,526,044 22 73 C 4479.81 Sqm. Sabzazar 3,626,511 23 12-A Usman 8Kanal New Garden Town 13,440,000

Total: 256,091,659

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