Govt Allocates 203% Higher Budget For Education

The Ministry of Education will get Rs. 25.75 billion or a 203 percent higher budget in fiscal year 2024-25 compared to Rs. 8.5 billion in FY23. According to the federal budget 2024-25, the government has allocated s. 66.3 billion for the Higher Education Commission, 11 percent higher than Rs. 59.7 billion in the outgoing fiscal year. The government has earmarked Rs. 103.781 billion for Education Affairs and Services in the federal budget for 2024-25 against the revised allocation of Rs. 103.684 billion for the current fiscal year, showing an increase of less than one percent (0.9 percent). The cumulative education expenditures by federal and provincial governments declined as a percentage of GDP in the fiscal year 2023 and is estimated at 1.5 percent of GDP compared to 1.7 percent of GDP in the previous year, which is the lowest in the region. The bulk of expenditure of Rs. 79.312 billion has been allocated for Tertiary Education Affairs and Services in budget 2024-25, which is 76.5 percent of the total allocation under this head. The government has earmarked Rs. 5.224 billion for pre-primary & primary education affairs for 2024-25 against Rs. 4.468 billion for 2023-24, Rs. 12.624 billion earmarked for Secondary Education Affairs & Services for 2024-25 against Rs. 10.778 billion for 2023-24, Rs. 4.497 billion for administration against the revised Rs. 2.844 billion for 2023-24. After the 18th Constitutional amendment, education as a subject has been devolved to provinces, and the federal government mainly finances higher education. According to the budget documents Rs. 66.315 billion has been allocated under the Public Sector Development Program (PSDP).