ISLAMABAD: Public-sector Universities have urged the CBR to issue them tax exemption certificate as recognition of their selfless services in the education sector.
The matter of tax exemption came under discussion at the 2nd conference of the Universities’ treasures held here today at COMSAT. It was decided that a committee of treasurers will meet the chairman Higher Education Commission to take up the matter of non-issuing of tax exemption certificates to public sector Universities with chairman CBR.
Matters relating to Up-gradation of post of Treasurers, hiring of firms for actuaries of pension requirement as per instructions of HEC were also discussed in the meeting.
The Universities’ treasurers and Directors Finance who attended the conference underlined the need of changing the funding formula as the existing formula does not cater to the pay increase announced by the government and continuously decreasing the share of some universities.
They also demanded that a representative of treasurers should be included in HEC’s committee which allocates budget to the Universities.
According additional treasurer AIOU Ghulam Dastgir who had been appointed central coordinator of the conference, the conference provides an effective forum to streamline the Universities’ financial matters to achieve the stipulated targets in the educational sector.
He said the demand of tax-exemption on Universities’ income is justified since it is utilized for further promotion of education. AIOU’s treasurer Suelman Saleem who chaired the meeting thanked the participants for their valuable contribution in making the conference successful.=DNA