The Higher Education Commission’s (HEC) proposed funding for the fiscal year 2024–2025 has been cut by the federal government from Rs. 65 billion to Rs. 25 billion.
Furthermore, only federal universities have been granted access to this decreased funding.
Federal Higher Education Commission
The Federal Higher Education Commission would no longer subsidise public universities in the provinces under the new agreement. Provinces will now be in charge of funding their universities.
HEC’s Development Budget
Initially, the Higher Education Commission had asked for Rs. 126 billion to fund more than 160 public universities across the country.
But the HEC’s development budget was cut by the Planning Commission from Rs. 59 billion to Rs. 21 billion.
Provinces have been instructed to get money for each of their universities independently, per a letter from the Finance Ministry.
HEC Chairman Dr. Mukhtar
The Ministry of Finance confirmed getting letters from HEC Chairman Dr. Mukhtar on the lowering of the Planning Commission’s development budget as well as the ongoing fund.
He voiced worries about the likely detrimental effects this might have on academic institutions.
Continued by saying that he is addressing this matter in letters to the prime minister and the minister of finance. He emphasised that the budget for HEC was reduced to Rs. 25 billion from Rs. 65 billion in 2018.
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