ISLAMABAD: In a move to boost the education sector, the federal government has announced a record increase in the budget allocation for the next fiscal year.
According to the Planning Commission, the education sector has been allocated a staggering Rs 20.25 billion for the budget 2024-25.
Last year, a total of Rs 8.5 billion was allocated for public sector development programs, showing a massive increase in the current year’s budget by 140 percent.
The increase in the budget allocation would help to launch several new programs by the Federal Ministry of Education during the current financial year.
However, this increase in the upcoming budget was because of the launch of several new programs by the Federal Ministry.
The Higher Education Commission (HEC) budget has been restored to Rs 65 billion for the financial year 2024-25.
As per details, the Minister of Finance revised the order to slash Rs 40 billion in the budget of the HEC for the financial year 2024-25.
Earlier this year, the HEC’s budget was cut down from Rs 65 billion to just Rs 25 billion, causing widespread concern among educational stakeholders and institutions.
The significant budget cut had raised concerns about the future of higher education and development programs countrywide.
The Ministry of Finance has reinstated last year’s budget of 65 billion rupees for the education sector. The Chairman of HEC expressed his gratitude towards the Prime Minister all Chief Ministers and other key stakeholders for their support in reversing the cut in the budget.
