Academic capitalism invading higher education is considered alarming in literature. This research aims to bring about the factual picture of the neoliberal approach adopted by the Higher Education Commission (HEC) within its delimitations. The research was deductive in nature and followed a Phenomenology research design. The sample comprised thirty-two (32) participants. Data were collected through interviews and document analysis. Thematic analysis technique was used to identify Seventeen (17) sub-themes and Four (4) major themes. The research concludes that the neoliberal approach is adapted by HEC considering its need of the hour for the development of research. Yet, it is not much appreciated by the administrative and academic heads. The reason remains the nonproductive check and balance process and weak feedback loop. Leadership trainings may be conducted to emphasize the importance of higher education as a philosophy of life, not as a commodity of life, to blend social justice with market ideologies.