ISLAMABAD: The Ministry of Finance has released Rs. 2.819 billion to the Higher Education Commission (HEC) as Human Resource Development component of 3rd quarterly installment of development grant.
The funds would be distributed to wipe out the immediate liabilities of the indigenous as well as the scholars studying abroad. At present the HEC has over 4000 MS and PhD scholars studying abroad while it funds 4300 scholars studying in local universities with over 900 MBBS students in Cuba.
The released funds will be utilized to ease the immediate requirements of these scholars on priority basis.
As far as the remaining liabilities of 3rd quarter of current financial year is concerned, the ministry of finance is considering to release of the immediate liabilities of salary and civil work component of the development funds during current quarter.
Source: The Post, 15-feb-09