Punjab government would soon introduce rules and regulations for private schools to protect the interests of parents as well as students, and there would be an increase in the existing budgetary allocation for education sector from financial year 2004-05.
Punjab Education Minister Imran Masood disclosed this while talking to newsmen at prize distribution ceremony of Institute of Bankers Pakistan (IBP)'s here on Thursday. IBP Chief Executive Muhammad Saleem Umer and State Bank of Pakistan Chief Manager Lahore Sohrab Abbassi were also present on the occasion.
Imran further said that the Sindh government has already introduced rules and regulations for private schools, and Punjab Education Department after thorough examination of these rules would prepare draft rules and regulations for private schools in Punjab. "Moreover, the increase in the education budget would be a historic step, as it would be the highest in the history of the Punjab," he added.
While addressing the audience, the minister said that he would like to see a link between the business community, universities and banking sector. He said that in Korea the business community seeks assistance of premier educational institutions' for innovation while the commercial banks fund them for the research and such developed triangle in Pakistan would help the country grow and create job opportunities.
"More universities would be established in the province and in this regard IBP's assistance in helping the universities, to introduce subjects related to financial and corporate sectors would be most beneficial," he added.
Speaking on the occasion, Saleem Umer said that IBP has opened its door to corporate sector, media, judiciary and others so that more up-to-date information on the banking sector and financial institutions could be disseminated.
"IBP was in the process of making knowledge dissemination more effective and widely available by publishing books and modernising its website in which reputed international financial magazines would be available," he added.
Later, the minister distributed prizes and certificates to the winners of inter financial sector quiz competition and inter collegiate/universities debate held during the IBP Knowledge Week between April 27 and 30.
The event also included a knowledge exhibition and launching of IBP publications.