The Higher Education Commission (HEC), in exercise of powers under section 10 (e) of the HEC Ordinance (Number LIII) of 2002, approved the formation of a National Business Education Accreditation Council at the 11th meeting held on August 15, 2006 and subsequently constituted the same through a notification number 1-2/BAC/QAA/2007 issued in March 2007. NBEAC function at the national level as an accreditation authority within its scope to facilitate enhancing the quality of business education in Pakistan. The NBEAC since its inception has laid out systems, procedures, networks and programs to ensure that all degree awarding institutions in Pakistan are invited to achieve standards that are comparable with global standards and thus gain NBEAC accreditation. In future this accreditation could be used as a mechanism to introduce business school rankings to encourage competitiveness, quality, continuous improvement and sustainability in the Pakistan business education market.
NBEAC accreditation acts both as a status and a process. Accreditation as status provides public notification that the accredited program meets standards of quality set forth by the NBEAC. As a process, accreditation reflects the fact that in achieving recognition by NBEAC, the institution and the program is committed to not only to meet standards but to continuously seek ways in which to enhance the quality of education in that program. Programmatic accreditation is an independent peer review process that validates that established standards of excellence set by the NBEAC are well met. NBEAC has designed these standards to assure that the graduates receive the quality of education in that program necessary for success in industry.
The National Business Education Accreditation Council (NBEAC) places great emphasis on improving and revising accreditation procedures to facilitate a business school. It undertakes the process effectively and efficiently to guarantee a fair decision. Accordingly, the NBEAC processes undergo regular evaluation and modification on the basis of previous experiences. The process continues to evolve to improve existing procedures and introduce new ones to meet emerging needs.