Finance Planning

The Finance Planning Section of HEC Finance Division administers the allocation and disbursement of recurring grant to federally funded public sector universities / degree awarding institutes. In this context, its objectives are:
 
  • to invite budget proposals for recurring grants from the federally funded Universities, Institutes, and Centers of higher learning, examine and assess their needs and formulate HEC recommendations through a committee constituted by the Commission for the allocation of recurring grants in a financial year.
    • to place the proposed allocation before the Commission and submit the New Item Statement (NIS) to the Finance Division of the Government of Pakistan for incorporation in the Government Budget.
    • to process the release of quarterly installments of recurring grants with the Finance Division of the Government of Pakistan as per their policy, and transfer funds to the Institutions against their approved allocations.
    • to obtain the utilization reports from the Universities and examine the report to ensure that funds released by HEC are spent on the purpose for which these were released.
    • to allocate and release funds for HEC programs under Inter University Academic Activities, Promotion of Research, such as the Digital Library, PERN, funding of Seminars and Conferences, Travel Grants, Sports, Accreditation Councils, National Research Program of Universities, Support for Scientific Journals and HEC Distinguished National Professors, amongst many others.
    • to allocate and release funds to universities for the faculty appointed under Tenure Track System.
    • to prepare HEC Budget, place it before the HEC Finance & Planning Committee and submit recommendations to the Commission for approval.
    • to provide additional (supplementary) grants after assessment of the requirements of Universities and also take up their requirements with the Finance Division, Government of Pakistan for additional funds.
Last Updated: 25-08-2016 13:59



Add a Comment