The Committee formed by the Prime Minister for the resolution of budgetary crisis in the higher sector has successfully resolved the issues.
Fifty percent increase and 15% medical allowance will be paid to universities as additional recurring grant. HEC will be given an additional amount of Rs 6 billion for the payment of medical and salaries.
Approved budget of Rs.15.7 billion for HEC will release quarterly.
It has been agreed that all foreign and local scholars will be funded till the completion of their studies, while all approved scholarships which are built within projects will be withheld till the improvement of the countrys financial health.
Furthermore, all projects, or component of projects, that are in advanced stages of completion, will be funded. No new contractual liabilities will be created until the economic situation of the country improves.
The Vice chancellors have appreciated the role of the Prime Minister, the Cabinet and the Higher Education Commission and recognize the Governments deep commitment for supporting higher education even in these difficult budgetary times.