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Financial Management

Finance Planning

 
Introduction

The Finance Planning Section of HEC Finance Division administers the allocation and disbursement of recurring grant to federally funded public sector universities / degree awarding institutes. In this context, its objectives are:
  • To invite budget proposals for recurring grants from the federally funded Universities, Institutes, and Centers of higher learning, examine and assess their needs and formulate HEC recommendations through a committee constituted by the Commission for the allocation of recurring grants in a financial year.
  • To place the proposed allocation before the Commission and submit the New Item Statement (NIS) to the Finance Division of the Government of Pakistan for incorporation in the Government Budget.
  • To process the release of quarterly installments of recurring grants with the Finance Division of the Government of Pakistan as per their policy, and transfer funds to the Institutions against their approved allocations.
  • To obtain the utilization reports from the Universities and examine the report to ensure that funds released by HEC are spent on the purpose for which these were released.
  • To allocate and release funds for HEC programs under Inter University Academic Activities, Promotion of Research, such as the Digital Library, PERN, funding of Seminars and Conferences, Travel Grants, Sports, Accreditation Councils, National Research Program of Universities, Support for Scientific Journals and HEC Distinguished National Professors, amongst many others.
  • To allocate and release funds to universities for the faculty appointed under Tenure Track System.
  • To prepare HEC Budget, place it before the HEC Finance & Planning Committee and submit recommendations to the Commission for approval.
  • To provide additional (supplementary) grants after assessment of the requirements of Universities and also take up their requirements with the Finance Division, Government of Pakistan for additional funds.
Funding Policy for Public Sector HEIs in Pakistan
The Presidential Ordinance No. LI of 2002, under section 10(g) and (h) requires the Commission to submit to the Federal Government the financial requirements for recurring and development needs of public sector higher education institutions in Pakistan and approve funds for these institutions out of bulk grants received from the federal government each year. The Commission’s funding mandate as laid down in the said Ordinance is reproduced as under: 
 

Section 10 (g):

Submit to the Federal Government the recurring and development budgets for public sector Institutions and allocate funds to public sector Institution out of bulk financial provision received from the government and other resources on performance and need basis.

Section 10 (h):

Review and examine the financial requirements of public sector Institutions: approve and provide funds to these Institutions on the basis of annual recurring needs as well as for development projects and research based on specific proposals and performance and while approving funds for a public sector Institution the Commission shall ensure that a significant proportion of the resources of the Institution are allocated to research support and libraries.

HEC started formula based funding from 2003-04 and is continuously refining it. The funding to higher education institutions is based on following general principles:

a)      Transparency 

b)      Fairness 

c)      Facilitation

d)     Predictability

For more detail Click Here… 

 

Tenure Track Funding to Universities

Tenure Track Funding:  HEC has been releasing funds to universities on account of additional financial impact of faculty appointed under Tenure Track System for the last 5 years. For this purpose, HEC has got a separate allocation under 'Tenure Track System' in the annual budget (Pink Book) of Govt. of Pakistan. The additional financial impact of tenure track salary of faculty appointed in universities for each financial year is collected on a Tenure Track Salary Proforma and funds are released to universities on quarterly basis...
 

 
 
Related Documents
Expand/Collapse Category : Documents ‎(2)
Expand/Collapse Category : Proformas ‎(4)
 
Contact

Ghulam Mujtaba Kayani
Director General (Finance)
Higher Education Commission
H-9, Islamabad, Pakistan
Tel.: +92 51 9040 1700
Fax: +92 51 9040 1702
Email: mkayani@hec.gov.pk

Ghulam Nabi 
Deputy Director (Budget)
Tel.: +92 51 9040 1811 
Email: gnabi@hec.gov.pk

Syed Samer Sibtain 
Assistant Director (Finance)
Tel.: +92 51 9040 1810 
Email: ssibtain@hec.gov.pk

Afeefa Irshad 
Assistant Director (Finance)
Tel.: +92 51 9040 1809 
Email: airshad@hec.gov.pk

Ayesha Hina Farooq 
Assistant Director (Finance)
Tel.: +92 51 9040 1812 
Email: ahfarooq@hec.gov.pk

 
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