Government Increases Education Budget by 5.5% for Fiscal Year 2023-24

Government Increases Education Budget by 5.5% for Fiscal Year 2023-24

In the federal budget for fiscal year 2023-24, the government has allocated Rs. 97.098 billion towards Education Affairs and Services. This represents an increase of approximately 5.5% from the revised allocation of Rs. 91.777 billion for the current fiscal year. 

Compared to last fiscal year’s 1.4%, Pakistan’s public spending on education as a share of GDP is projected to be 1.7% in fiscal year 2022-23. Despite the rise, this remains the smallest percentage in the region. 

Under the heading of Tertiary Education Affairs and Services, a significant portion of Rs. 76.589 billion has been allocated for the 2023-24 budget. This accounts for nearly 79% of the total funds allocated in this category. 

For the fiscal year 2023-24, the government has assigned Rs. 4.468 billion for pre-primary & primary education affairs, marking an increase from Rs. 3.786 billion in 2022-23. Secondary Education Affairs & Services received Rs. 10.778 billion for 2023-24, up from Rs. 8.863 billion in 2022-23. For administration, Rs. 3.698 billion has been allocated, compared to a revised allocation of Rs. 2.010 billion for 2022-23, later modified to Rs. 2.430 billion. 

Read More: CSS 2022 Exams: Shockingly Low Pass Rate of 1.85%, FPSC Reports

Post the 18th Constitutional amendment, education was devolved to the provinces, with the federal government primarily financing higher education. 

The budget documents reveal that the Higher Education Commission (HEC) will receive Rs. 59.71 billion under the Public Sector Development Programme (PSDP) for 2023-24, an increase from Rs. 44.718 billion for 2022-23. 

Most Popular

To Top