Karachi Institute of Economics and Technology (KIET) (Urdu: درسگاہِ کراچی برائے علومِ معاشیات و فنونِ سائنسی) was established in 1997. KIET received recognition by the Higher Education Commission (formerly named UGC) vide letter no. 15-22/UGC-SEC/97/1291 dated 1 August 1998. HEC ranks KIET as 8th best university in Business/IT category. KIET was awarded a degree-granting status through a charter from the government of Sindh on 24 May 2000. KIET has also been granted NCEAC Accreditation for its BSCS, MCS program.