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.