Institute of Business Administration (IBA) in Karachi is the primary education institute of highest ranking and notable achievements to its name. But all the glory revolves around fee collection as it raised tuition fee for the upcoming academic session. Being virtue of its presence in Karachi, IBA is governed by the educational ministry of Sindh and the government had already instructed all institutes for not increasing their fees. University is of the view that tuition fee is being raised owing to the economic crisis caused by corona virus. All students enrolled in the academic session of 2020 – 2021 will be bound to pay a 10% higher fee.
This decision means that IBA will approximately be earning Rs. 140 Million annually out of which 100 Million will be generated from new admissions only. Fees increment is against the orders of government but despite of this, the decision was approved in the meeting of Board of Governors (BOGs). Another astonishing fact is that Secretary Sindh Universities and Boards was also present in the meeting. Summary for collecting 10% high fees are already being forwarded to the Accounts and Finance department of IBA.
BOGs were also of the view that it is not only IBA but other notable universities including LUMS, Habib University, Punjab University and SZABIST have also increased their fee. Lastly, they mentioned that a comparison of IBA with other universities are not being drawn but this is done in order to facilitate the financial strength of institute. Some of the board members also highlighted the point that even after this fee increment, IBA’s fees are still half of that of LUMS and one-third of that of Habib University. On the other end, students have rejected this raise and has termed this decision as unreasonable by saying that not only institutes but they are also suffering with financial crisis.