Establishment of endowment fund crucial for lasting solution of varsities financial affairs: CM Domki

QUETTA  -  Balochistan Chief Minister (CM) Mir Ali Mardan Khan Domki on Tuesday said that the establish­ment of an endowment fund was necessary for the permanent solution of the financial affairs of the public sector universities. 

He expressed these views while chairing a high-level meeting to review the administrative and financial affairs of the universities of Balochistan and to solve the problems faced by them.

The meeting was attended by provincial care­taker ministers and the chairman of the Higher Education Commission (HEC). Addressing the meeting, the chief minister said that the provision of bailout packages to universities is not a sustain­able solution to financial problems, rising costs have to be controlled. He said that the establish­ment of an endowment fund is necessary for the permanent solution of the financial affairs of the public sector universities. The support of the fed­eration will also be sought for the establishment of the endowment fund, he said, adding that the provincial government would contribute to the en­dowment fund according to its resources. 

He said that improvement of governance in pub­lic sector universities should be ensured, saying that for the transparency of the financial and ad­ministrative affairs of the universities, third-party audits should be done continuously. Chairman of HEC Dr Mukhtiar Ahmed said that Higher Educa­tion Commission has formulated a comprehensive plan to improve the performance of public sector universities. It is necessary to provide quality ser­vices by declaring education and health sectors as mandatory services, he said.

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