Higher Education Commission (HEC) risks losing funding worth millions of dollars after it failed to achieve several key milestones over the past 12 months.
According to details, the International Development Association (IDA), a World Bank mandated international financial institution which offers grants to developing countries around the world, is mulling over revoking HEC’s $218 million funding.
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Meanwhile, the Federal Education Ministry has decided to seek emergency assistance from the government to avert HEC from losing the grant.
In this regard, the Education Ministry has requested the Economic Coordination Committee (ECC) to disburse Rs. 2.26 billion to the HEC with immediate effect.
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Sources have it that the government’s decision to cut HEC’s annual funding hampered the commission from attaining specific goals set by IDA.
Officials within the Education Ministry have expressed confidence that HEC will achieve the milestones after receiving Rs. 2.26 billion from the government.
