The Finance Division has revised the Indicative Budget Ceiling (IBC) for the Higher Education Commission (HEC) upwards to Rs. 65 billion from the initial allocation of Rs. 25 billion for the fiscal year 2024-25.
Official documents revealed that the Finance Division issued a letter titled “Revised Provisional Indicative Budget Ceilings for Fiscal Year 2024-25 Recurrent Budget.” The letter supersedes a previous communication from the Finance Division (Budget Wing), dated May 24, 2024.
The letter states: “The IBC for HEC has been revised to Rs. 65 billion from the initial allocation of Rs. 25 billion for FY 2024-25.”
The Finance Division has instructed that Budget Orders (BOs) and New Items Statements (NIS) be prepared in accordance with the revised Provisional Indicative Budget Ceiling for FY 2024-25. These documents should be submitted to the Director (Budget Computerization), Budget Wing, Finance Division for entry into the SAP system immediately.
The Federation of All Pakistan Universities Academic Staff Association (FAPUASA) had announced plans to observe a black day at all universities in protest against the substantial budget cut for the HEC. The HEC had initially requested Rs. 126 billion to support over 160 public universities across the country.
