ISLAMABAD: In a major development, struggling Quaid-i-Azam University (QAU) on Tuesday received Rs2 billion bailout package from the federal government.

Economic Coordination Committee (ECC) headed by Finance Minister Muhammad Aurangzeb, besides other agenda items, approved the package for QAU.

“The ECC approved in principle a bailout grant of Rs2 billion for Quaid-i-Azam University, contingent upon the preparation and presentation of a comprehensive financial self-sustainability plan.

“The university, in collaboration with the Higher Education Commission, is required to submit a clear roadmap outlining the strategy to achieve long-term financial stability and reduce dependency on future bailout packages,” read an official statement.

A source said that participants of the ECC were of the view that QAU is struggling therefore, this bailout package should be approved for it. However, they said that government does not have unlimited resources........

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