By Adnan Rafique
ISLAMABAD: Building upon its global standing as a quality higher education institution, the National University of Sciences and Technology (NUST) has ascended 16 positions in the discipline of Engineering and Technology to stand at #144 in the world, retaining the number one position in the discipline in Pakistan for the eighth consecutive year, as per Quacquarelli Symonds (QS) World University Rankings by Subject 2024.
As par the latest rankings, NUST proudly stands among the top 200 world universities in the subjects of Computer Science, Electrical and Electronics Engineering, and Civil and Structural Engineering. Meanwhile, the university is positioned among the top 300 world universities in the subjects of Mechanical, Aeronautical and Manufacturing Engineering, Chemical Engineering, Material Science, and Mathematics. NUST has also made its first-ever appearance in the subjects of Accounting and Finance, Economics and Econometrics, and Medicine. A noteworthy aspect is the university’s consistent improvement in the QS World University Rankings by Subject. NUST’s recognition in 15 out of 55 subjects this year surpasses its previous year’s standing, where it was ranked in 12 out of 54 subjects.
The steady upward trajectory in NUST standing on the international stage is a testament to its pursuits of academic excellence, innovation and scholarly contributions across diverse fields.
Earlier, The Institute of Policy Studies at the National University of Science and Technology (NUST) has put forward a comprehensive solution to address Pakistan’s economic challenges.
Highlighting the urgency of the situation, the institute emphasized the immediate need for a reduction in the country’s high interest rates, calling for strong political commitment from both civil and military leadership.
According to the NUST report, Pakistan’s economy is grappling with five major issues, including high fiscal and current account deficits, mounting debt, sluggish economic growth, and persistently high inflation rates. The report underscores the significance of addressing these challenges promptly.
Specifically, the institute suggests an immediate reduction in the current policy rate, which stands at 22 percent. It estimates substantial annual savings of billions of rupees with even a modest one percent reduction. Moreover, NUST proposes consolidating the federal development budget for the next two years and refraining from initiating new infrastructure projects.
Additionally, the report recommends expediting the privatization of state-owned enterprises such as Pakistan Steel Mills and Pakistan International Airlines (PIA) to mitigate losses.
It advocates for reforms in social welfare programs like the Benazir Income Support Program (BISP), suggesting a reduction in the number of beneficiaries and fixed budget allocation.
Furthermore, NUST stresses the importance of sharing financial responsibilities with provincial governments, enhancing revenue generation, and implementing a point of sale system to streamline taxation, including sales tax.
In terms of human resource management, the institute suggests appointing highly qualified professionals to key ministries such as Finance, Planning, Federal Board of Revenue (FBR), Energy, Commerce, and Industry. It also recommends the formation of a specialized team to boost exports, recognizing the critical role of friendly nations in Pakistan’s economic recovery and stability.
The comprehensive proposal by NUST underscores the need for concerted efforts and strategic reforms to navigate Pakistan through its economic challenges and pave the way for sustainable growth and
development.
