Education in the 21st century demands a balance between continuity and change. The technological leaps and the consequences thereof has overtaken the old educational paradigms and new concepts have emerged in the world of learning. The Punjab Group of Colleges (PGC) was among the first to realize this transition and its challenges. PGC, therefore, submitted a petition to the Government of Punjab, in August 1996, to allow to establish a university in the province. A No Objection Certificate was issued in October 1999. The charter to establish the University of Central Punjab (UCP) was awarded in April 2002. Thus, this University clinched the distinction of becoming the first private sector university in Punjab which acquired the status of a degree awarding institution.When the University operations started in October 1999, it offered courses in Management Studies, Information Technology, Commerce and Law through its principal constituents i.e. Punjab College of Business Administration (PCBA), Punjab Institute of Computer Sciences (PICS) & Punjab College of Information Technology (PCIT), Punjab College of Commerce (PCC) and Punjab Law College (PLC) respectively, all situated in Lahore.