Chandigarh: The Punjab Cabinet on Monday approved an ordinance on capping fee hikes by private schools at 5 per cent per annum.

Addressing mediapersons after the Cabinet meeting chaired by Chief Minister Bhagwant Mann here, Finance Minister Harpal Singh Cheema said a decision was taken to allow private schools to raise fees only by 5 per cent per annum.

An ordinance on this will be sent to the Governor for approval, he said.

Sharing more details, Education Minister Harjot Singh Bains said it has also been decided that if any school raised fee more than 15 per cent in the last three years, the fee component charged above 15 per cent will be refunded.

Bains further said that if a school wants to increase fees by more than 5 per cent, a committee led by a divisional commissioner will examine a request for it. The school will have to provide reasons for increasing the fee by more than 5 per cent.

The committee will have the power to accept or reject the request, Bains said.

On June 3, Chief Minister Mann had announced that the fee hike will be capped at 5 per cent per annum.

The 5 per cent ceiling will cover not only the tuition fees but also all mandatory charges and funds collected by schools, he had said.

This report was published from a syndicated wire feed. Apart from the headline, the EdexLive Desk has not edited the copy.