Do PhDs contribute to the Financial Health of our Universities?

The Islamia College University, Peshawar, is facing a financial crisis despite having property worth billions of rupees in Peshawar and Charsadda cities. The rent of Islamia College University’s most expensive shops in Peshawar’s Khyber Bazaar is only two to three thousand rupees per month while the rent for other private shops in this area is between Rs25,000 and Rs100,000. The university is facing an annual deficit of at least Rs100 million in rent from its commercial and agricultural properties.

ORIC which is an abbreviation of “Office of Research, Innovation and Commercialisation” is a department within the government chartered universities. ORIC was introduced by Higher Education Commission of Pakistan to fulfil the mission of Higher Education Commission of Pakistan to transform the universities to drive high impact innovation, applied research and entrepreneurship. their goal is to become a powerhouse of high growth innovation. At universities ORIC provides services in research and development, innovation, inventions, commercialisation, patents and collaborations. In short the purpose was to develop something that can contribute to the financial position of the universities by marketing what the universities have, and obviously university can offer much more to the market from research to tangible products. It is mandatory for universities to have an established ORIC department in Pakistan.

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