Summary Finance Ministry has failed to release third quarter amount of fiscal year to the commission.
ISLAMABAD (Online): The Higher Education Commission (HEC) is once again facing financial crisis, as the Finance Ministry has failed to release the third quarter amount of the current fiscal year to the commission.
Sources said that the Finance Ministry had to release the quarterly amount of Rs 12 billion to HEC for the current fiscal year 2012-13; however, the HEC has not received its due installment.
The amount was due in January 2013, the sources said, if the amount is not released immediately, the Commission would not be able to pay the salaries to its employees for March.
Earlier, the Senate Standing Committee on Finance had directed the Finance Ministry to release the due amount of Rs 12 billion to HEC till March 1, 2013, however, the ministry showed no seriousness in this regard.
Besides, the several vice chancellors of public sector universities have also written letters to HEC over paucity of funds but in vain.
