KUALA LUMPUR: The Higher Education Ministry, which shoulders a big responsibility to spend RM16.3 billion allocated to the ministry in the Budget 2024 theme 'Economic Reform, Empowering the People,' described it as a budget that represents the government's commitment to revive the economy for the sake of people's welfare.
In a statement tonight, the Higher Education Ministry has pledged to utilise the 2024 Budget allocation of RM12,212,788,400 for Operating Expenditure and RM4,126,679,500 for Development Expenditure to continue the ministry's Madani economic agenda.
Acknowledging that there has been an overall increase in the ministry's allocation by 6.8 per cent compared to 2023, it said the higher funding for next year reflected the crucial role the ministry had to play in realising the Madani economic framework to empowering the people through higher education.
"The ministry commits to advancing higher education through projects like new teaching hospitals, Malaysia's first Artificial Intelligence education centre, and increased research funding while capping Public University admission fees at RM1,500."
The ministry will offer National Higher Education Corporation Fund (PTPTN) loan repayment discounts from Oct 14, 2023, to March 31, 2024, including a 10 per cent discount for full loan settlement, 10 per cent for payments of 50 per cent of the outstanding balance, and 15 per cent for scheduled salary deductions or direct debit payments.
The ministry also vowed to continue the digitisation of higher education with an allocation of RM250 million to replace and expand Wi-Fi access in all public universities.
This includes RM5 million for implementing digitisation projects at teaching hospitals.