The government has earmarked Rs 84.

19 billion for Education Affairs and Services in

the federal budget for2016-17 against Rs 75.57 billion it had allocated for last
fiscal year, showing an increase of 11 percent.
According to the budget documents Rs 79.5 billion has also been earmarked for Higher
Education Commission (HEC) including Rs 21.5 billion under the Public Sector
Development Program (PSDP) and Rs 58 billion on account of current expenditure,
showing an increase of 13 percent as compared to Rs 51 billion earmarked for 2015-16.
Overall this is 11 percent higher than last year and highest ever in Pakistans history.

The government has earmarked Rs 8.19 billion for pre-Primary & Primary
Education Affairs for 2016-17 against Rs 7.24 billion for 2015-16 which was later revised
to Rs 7.24 billion,

Rs 10 billion earmarked for Secondary Education Affairs & Services for 2016-17
against Rs 8.99 billion for 2015-16,

Rs 63.59 billion for Tertiary Education Affairs and Services against Rs 56.67
billion earmarked for 2015-16 which was later revised to Rs 56.84 billion,

Rs 1.16 billion for administration against Rs 1.4 billion for 2015-16 which was
later revised to Rs 1.28 billion.
Pakistans Public expenditure on education as percentage to GDP is estimated at 2.2
percentage in fiscal year 2015 as compared to 2.1 percentage of GDP in fiscal year
2014, showing an increase of 4.8 percent.
According to World Bank Data Sheet, the latest available Public Sector expenditure on
Education as percentage of GDP, in other countries of the region was 2 percent in
Bangladesh, 4.6 percent in Afghanistan, 6 percent in Bhutan, 3.8 percent in India, 3.1
percent in Iran and 5.2 percent in Maldives.
After the 18th Constitutional amendment, education as subject has been devolved to
provinces, and federal government mainly finances higher education.
The government has earmarked Rs 21.5 billion for the Higher Education Commission
(HEC) for the fiscal year 2016-17 in the PSDP. According to budgetary document Rs 5.4
billion earmarked for the new schemes of the HEC, while Rs 16.05 billion earmarked for
the ongoing schemes.
The allocated amount for the new important schemes included Ph.D Scholarship
Program under Pak-Us Knowledge Corridor phase-1, with total funding of Rs 300 million
while Rs297.981 million has been earmarked for Strengthening & Up gradation of the

Universities of Less Developed Areas. An amount of Rs 200.000 million has been

allocated for the Women University Campuses at Pashin and Khuzdar.
The ongoing schemes of the HEC included Establishment of FATA University with total
funding of Rs250.000 million, while Rs 350.000million for Establishment of University of
Loralai, Rs 50.000 million for Establishment of University at Sibi, Balochistan has been
allocated.
A total amount of Rs 500.000 million has been earmarked for the Fulbright Scholarships
Support Program of HEC-USAID Phase-2, while Rs 900.000 mln would be utilized for
Indigenous PhD fellowship for 5000 scholars, HEC phase-2. With an amount of Rs105
mln, the FATA, Balochistan students would be facilitated of higher education. An amount
of Rs 70 mln would be utilized for the Upgradation of the Federal Government College
for Women F-7/2 to Federal Women University Islamabad.
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Annuity
This popular retirement tool involves an initial investment that, after a period of time, is paid out to the
investor. How you receive the payments varies. They can be paid monthly or annually over 20 years or made in
one lump sum, and payments can be made until the investor dies. Annuities can be considered fixed or
variable. In a fixed annuity, the investor gets the same payments throughout the length of the payout. A
variable annuity has payouts that rise and fall with the market.

Perpetuity
These are never-ending flows of payments. This seems like a great investment idea, particularly if you want a
conservative financial vehicle with a no-fuss amount of money at the end of the day. However, perpetuities do
have a downside. The original investment is never returned to the owner, and that investment never
appreciates. This is an issue because those never-ending payments eventually will be worth less with inflation.
For instance if the original investment of $100,000 has a 3 percent interest rate, the investor can expect
payments of $3,000. In 20 years, this amount will not pay for as much as it does in todays dollars. In 40 years,
it will be even less. A variable annuity has a better chance of growing as time goes on.

Examples of Perpetuity
Preferred stock shares closely resemble a perpetuity. Purchasers of preferred shares receive regular fixed
payments, or dividends, from the issuing company. However, if the company goes bankrupt or experiences
financial difficulty, payments can be stopped or deferred until times are good. Another example of perpetuity
investment are long-dated bonds, such as those issued by the United Kingdom around World War I. These 100year bonds live up to the definition of a perpetuity because they pay out almost immediately. A growing
number of universities in the United States also have issued such bonds. For example, "Forbes" reports that the
University of Pennsylvania issued $300 million in 100-year bonds in 2012 with an interest rate of 4.674
percent.

Where Annuities and Perpetuities Meet

The annuity realm has perpetuity-like product known as an immediate annuity. Also called an income or
payout annuity, it allows the investor to put down a sum of money and then begin to receive payments
immediately thereafter. For instance, an investor may choose to receive payments on a monthly basis, in which
case the payments would start the month following the initial investment.