KARACHI: The escalating value of the dollar has caused significant turmoil for students at the Dow International Medical College (DIMC), putting the education of over two hundred students in jeopardy.
Concerned parents are urgently seeking government intervention to safeguard their children’s academic future amidst this predicament. The situation primarily affects DIMC students who are required to pay their fees in US dollars according to DIMC’s regulation under the foreign sponsored seats.
The recent surge in the dollar exchange rate has led to an almost hundred percent increase in fees, intensifying the financial burden on parents. The scarcity of US dollars within Pakistan, combined with the exorbitant price of the currency, has created immense difficulties for parents, rendering the continuation of their children’s education increasingly unaffordable.
Parents who initially paid a fee of 10 thousand USD, equivalent to roughly Rs 1.5 million, during the first year, now find themselves compelled by circumstances to pay a whopping PKR three million annually and there is a strong likelihood to increase due to a continuous rise in the USD rate.
Parents argue that since DIMC manages all its expenditures in PKR, including staff salaries, it would be more reasonable for fees from local students to be charged in PKR as well. The exponential surge in the dollar’s value has made it unaffordable for parents to cope with the current fee structure. There is already a severe shortage of doctors in the country, these obstacles will only exacerbate the burden on healthcare services.
Parents have earnestly appealed to government authorities to promptly resolve the issue and amend policies by aligning them with the prevailing economic conditions.
Copyright Business Recorder, 2023
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