HEC plans to change policy of funds transfer to universities

HEC plans to change policy of funds transfer to universities
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ISLAMABAD: The Higher Education Commission (HEC) has decided to change the policy of funds transfer to the public sector universities under newly devised rules and regulations in this regard by the government.

HEC will formulate new policies for transfers of funds to the all public sector universities, said an official on Friday. Talking to APP, the official said that HEC has determined to bind all public sector universities till 2022 for collecting of 20 percent revenue itself to meet its needs.

To finalize the policy regarding funds transfers, Vice Chancellors Committee have constituted a new committee, consisting of Vice Chancellors and representatives from HEC, he informed. The official said that the universities would be allocated funds for development projects in the light of recommendations given by the committee.

The new committee established under the directions of Vice Chancellor Committee, would also present suggestions in this regard to HEC in one month, he added.

The committee, he said, would be presided over by the Vice Chancellor Balochistan University of Science and Technology, Dr Faruq Bazai. The sources further said that the aim behind the changing of policy in transfers of funds to universities is to improve the research work as per need of the society.

When contacted, Head of the Vice Chancellors Committee Dr Masoom Yasinzai underlined the need of formulating new policies aimed at to empower the public sector universities in changing of circumstances globally. Unluckily, the higher educational institutions have become irrelevant to the societal need, he lamented.

He said that our research is unfit for resolution of societal issues, while the industry is also not taking help from higher educational institutions to resolve its issues.

Pakistan