University advancement programme: Pointing the way to financial independence

Academics share ways varsities can raise funds on their own.

ISLAMABAD:

Against the backdrop of proposed cuts by the government on non-development budgets, a conference was organised by the Higher Education Commission (HEC) on Thursday to encourage universities to carry out fundraising to gain financial independence on its premises.

The conference on university advancement, “Paradigm Shift towards Financial Sustainability-Fundraising in Higher Education Institutions,” was aimed at discussing ways to donors and other interest groups in order to maximise funds for research and academic programmes.

Institute of Business Administration (IBA) Karachi Director Dr Ishrat Husain shared his institute’s initiatives to attract donors. The prime factor in attracting donors for contributing to higher education institutes is to ensure transparency, he said.

“It will put the institutes to account and put the potential donors’ faith as well,” he added. He was of the view that top management of varsities should get involved instead of passing on the buck to clerical staff.

He also underlined the importance of a strengthened governance structure and creation of an endowment fund in higher education institutions. Dr Ishrat however regretted that the alumni of IBA did not contribute towards attracting donors which was standard practice the world over.

HEC Chairman Imtiaz Gilani said that the higher education sector had expanded exponentially in the last 10 years but in the ever-changing socio-economic environment, it had become inevitable for universities to realign their growth strategies and learn some corporate tricks for resource generation and fundraising.

Lahore University of Management Sciences Vice Chancellor Dr Sohail Naqvi said HEC’s university advancement programme was aimed at introducing the methodology of fundraising being practised worldwide. Every university should have a university advancement office for the effective management of fundraising activities, he added.

HEC’s university advancement programme is about building relationships with society and generating support for universities’ academic programmes, research and infrastructure. It aims to reverse the trend of educational aid by developing institutional capability and cultivating donors. It focuses on enhancing understanding and relations among university alumni, friends, opinion leaders and community for philanthropic support.

Minister of State for Education, Training and Standards in Higher Education Balighur Rehman stressed that universities should establish linkages with industry and government departments.

Published in The Express Tribune, February 21^st, 2014.