HEC fails to deposit Rs4.85 billion in national kitty 

The Higher Education Commission (HEC) deposited over Rs1.13 billion it received under the head of verification of degrees and other amounts received from other sources in its own income account rather than in the national exchequer, reported 24NewsHD TV channel on Monday.  

It has emerged that the HEC has not deposited Rs4.85 billion in the national exchequer. 

Under the Public Finance Management Act, 2019, it is binding on all government departments to deposit the income they earn in the national exchequer. 

According to the audit officials, the HEC has violated the law. 

On the other hand, the commission officials have stated that since the grants the department is receiving are inadequate, they have no other option but to use their own income to meet their expenditures.   

At the DAC meeting, the HEC has been directed to seek an explanation from the finance division and share its correspondence with the audit officials.

The commission has also been directed to deposit the amount collected during the financial year, 2023-24 in the national exchequer immediately.

Reporter: Bilal Niazi