K-P CM orders drafting of rules under HEREF Act

Mahmood says endowment fund aimed at promoting quality research in public sector universities

PESHAWAR:

The provincial chief executive has directed the Higher Education Department to draft rules and regulations under the Higher Education Research Endowment Fund (HEREF) Act, 2014.

Khyber-Pakhtunkhwa (K-P) Chief Minister Mahmood Khan issued these directives as he presided over the 5th meeting of board of directors of HEREF.

The meeting approved a four-member investment committee headed by Higher Education Department secretary which would ensure timely investment of seed money under HEREF.

The meeting reviewed the implementation status of decisions taken in the last board of directors meeting. The chief minister directed that all the requirements should be met in time so that the objectives of endowment fund could be achieved.

The meeting was informed that Higher Education Research Endowment Fund Act, 2014 was started initially with a seed money of Rs50 million which was later increased to Rs500 million. The profit of seed money was being utilised to finance the research proposals of universities in different fields.

It was also disclosed that in the light of previous board of directors meeting various research proposals of different public sector universities had been financed.

CM Mahmood informed that the endowment fund was aimed to promote quality research in public sector universities by financing research proposals.

Published in The Express Tribune, September 27^th, 2020.