Higher Education Commission Chairman Tariq Binouri has expressed his disappointment over the cut in the education budget."The finance ministry is axing the country's future," the HEC chairman said in an interview with SAMAA TV on Wednesday. "A deduction in education funds is a great tragedy."He said they had sought Rs104 billion for the HEC. The finance ministry promised Rs70 billion, but allocated only Rs64 billion.Binouri said he has written a letter to the prime minister to reconsider the decision.Universities are issued funds in three categories and those funds are used for different purposes, according to the HEC chairman. The HEC spends Rs200,000 annually on the higher education of a student.Previously, he said, Rs7 billion was issued for research purposes but now that amount would also have to be slashed.