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