HEC’s funding requirements for next two years reviewed

Hamza HabibOur Correspondent

16th Sep, 2021. 07:34 pm
HEC Agrees To Postpone 2-Year Associate Degree And 4-Year Graduation Program

HEC Agrees To Postpone 2-Year Associate Degree And 4-Year Graduation Program

ISLAMABAD: Federal Minister for Planning, Development & Special Initiatives Asad Umar and Federal Minister for Federal Education & Professional Training Shafqat Mehmood jointly chaired a meeting here to review the progress of Public Sector Development Programme (PSDP) 2021-22 portfolio of HEC, with emphasis to complete maximum number of ongoing projects in FY 2021-22 and FY 2022-23, and rationalise funding of ongoing/new projects to ensure diversion of funds towards projects which are nearing completion.

Ministry of Planning, Development & Special Initiatives (MoPD&SI), Ministry of Federal Education & Professional Training (MoFE&PT) and Higher Education Commission (HEC) have been working in close collaboration for the last one month to review the PSDP 2021-22 portfolio of HEC and develop a strategy to ensure completion of maximum projects by June 2023.

After initial review by MoPD&SI teams, a meeting was held on September 1, 2021 under the chairmanship of Prime Minister Imran Khan to review PSDP 2021-22 portfolio of HEC. The Prime Minister directed Minister for PD&SI and Minister for FE&PT to further review the development portfolio of HEC with the emphasis to complete maximum number of on-going projects in FY 2021-22 and FY 2022-23 and rationalize funding of on-going/new projects.

In the light of directions from the Prime Minister on Thursday, HEC informed the meeting that it has been allocated Rs 42.45 billion in PSDP 2021-22 for 168 projects. This includes Rs 29.74 billion for 128 on-going projects and Rs 12.71 billion for 40 new projects.

The total cost of 168 projects is Rs 347.4 billion. The expenditure incurred on these projects by June 2021 is Rs 116.92 billion while the throw-forward is Rs 230.48 billion. PSDP 2021-22 allocation for these projects is Rs 42.45 billion.

It was also informed that the breakup of 168 schemes reveals that 112 projects are ongoing projects of universities/HEC, 16 are ongoing scholarships schemes, and 40 are new projects.

They further elaborate that 75 projects will be completed by June 2023. The total cost of these 75 projects is Rs 108 billion with a throw-forward of 40 billion. PSDP 2021-22 allocation for these 75 projects is Rs 15 billion.

In order to complete these projects, this allocation needs to be revised to Rs 17.5 billion (additional Rs 2.5 billion in FY 2021-22) while the remaining Rs 22.5 will be required in FY 2022-23.

Out of the 75 projects, 28 will be completed by June 2022. These projects have a cumulative cost of Rs 39 billion with a throw-forward of Rs 3.7 billion. This throw-forward is already catered for in PSDP 2021-22.

HEC earlier worked out completion of 34 projects by June 2023. However, in later exercises with MoPD&SI and MoFE&PT, the number was revised to 47 projects (13 additional projects to be completed). The total cost of these 47 schemes is Rs 70 billion with an expenditure of Rs 34 billion by June 2021 and throw-forward of Rs 36 billion.

These projects have an allocation of Rs 11 billion in FY 2021-22. It is proposed to revise this allocation to Rs 13.7 billion (additional Rs 2.7 billion in FY 2021-22). These 47 projects will need an amount of Rs 18.5 billion in FY 2022-23 for completion and Rs 3.8 billion for subsequent operational needs.

The Minister for Planning and Minister for FE&PT appreciated the laborious worked done by HEC and MoPD&SI teams. Minister for PD&SI Asad Umar requested Minister for FE&PT to review 16 projects originally planned for completion in 2023-24 and work out the possibilities for accelerating their completion by June 2023.

Minister for FE&PT directed Secretary FE&PT and Executive Director HEC to hold a meeting on September 17, 2021 to review new projects in FY 2021-22 and list of projects for FY 2023-24.

Secretary MoPD&SI, Secretary FE&PT, Executive Director HEC, Member S&T Planning Commission Senior Officials from MoPD&SI and HEC attended the meeting.

Adsence 300X250