Khyber Pakhtunkhwa Chief Minister Mahmood Khan has directed formulating rules and regulations for Higher Education Research and Endowment Fund (HEREF).

Presiding over a meeting in Peshawar, he said the purpose of setting up Endowment fund in Universities is to finance and promote research in higher education institutes.

The meeting was informed that the higher education research endowment fund has been increased from fifty million to five hundred million rupees.

The meeting was further informed that a number of research proposals of different public sector universities have been financed from the endowment fund.