Institute of Business Administration (IBA) Karachi has increased the tuition fee for academic session 2020-21 by 10% despite the prevailing economic crisis triggered by the Coronavirus outbreak and resultant ordinance enforced by the Sindh government binding universities to reduce the fee by 20%.
IBA is expected to collect Rs. 164 million annually from the move, Rs. 100 million of which will be raised during admissions of the fall semester.
According to details, IBA’s Executive Director, Dr. Akbar S Zaidi, approved the decision on 25 July during the meeting of the Board of Governors (BoG) of the institute.
It is worth mentioning that Secretary Sindh Universities and Boards, Riazuddin, also attended the meeting of IBA’s BoG.
The summary to increase the fee was forwarded to the BoG by IBA’s Accounts and Finance department on 12 June.
During the meeting, the board members were apprised with the fee structures of LUMS, KSBL, and Habib University as well. The members were told that some universities in Sindh including SZABIST have increased the fee recently, flouting the ordinance enacted by the Sindh government to grant the students a discount in the fee.
The BoG justified the fee hike by stating that IBA’s fee will still be half of that of LUMS and 1/3 of Habib University after the increase.
Students at IBA have rejected the latest fee hike and termed it as unjust considering the current economic situation across the country.