While the national education policy for 1998-2010, or any other for that matter, does not have a separate section on business education. There are different views on the issue of whether to regularise the activities of the business schools in the private sector or not. While one opinion is that it should be regulated others say the schools should be allowed to function freely.

Those who want a legislation to be passed to regulate the opening and functioning of the business schools say that regularising the schools will minimise the malpractices such as opening of business schools without facilities such as books, library, faculty as well as reduced the false claims of being a local branch of foreign university.

Another argument against the legislature on business schools said at least these business schools are providing some education, "though may not be of high caliber" while standards of education in colleges in the public sector is declining day by day. The teachers are losing interest and the attendance is falling to ten per cent level, therefore, the private business schools are at least better than the public schools and colleges .

According to some of the operators of these universities, the holder of such degrees will be eligible for a government job, but if it is not recognised, "no one cares about the government jobs nowadays in view of the political instability and the jobs that are really not there" one of the students in the private sector, complained.

The private institutions on the other hand claimed that their affiliation with foreign universities give them greater chances of learning at first hand about the new advancements and rapid changes in the business community around the world than, the ones in the public sector.

"There should be a monitoring team, to be set up by the UGC and that will improve the situation" Ahsan Rafi, Director General of Preston University said.

Though in the recent months, the UGC has formulated a principle by which these private universities could be recognised by the government and some of those who applied are said to have been given NOC by the UGC or the concerned agencies while others are still in the pipeline.