Realizing the importance of business education, Department of Business Administration was established in 1972 in the University of the Punjab. Later on, the department was upgraded to the Institute of Business Administration (IBA) in 1989. This was a great mile-stone in the history of the University, as IBA was the second institute in Pakistan, where teaching of business administration was being offered. The Institute was shifted to its existing building in 1994. One year Post Graduate Diploma in Business Administration was started in 1992. To impart management education to in-service executives, MBA evening was started in 1995.
In 2005, BBA (Hons) was also started for high-caliber under-graduate students who are both academically able and exhibit strong managerial potential. BBA (Hons) is offered on regular (morning) and self-support (afternoon) basis. In 2009, MBA (One and Half years) was also started for IBA-PU BBA (Hons) graduates and the program is offered on regular basis. Aimed at developing advanced competencies in theorizing and research, IBA started M.Phil in Business Administration and Ph.D in Business Administration programs in 2014. In 2016, MBA 3.5 Years (Afternoon) was started for 14 years education (BA/B.Sc/B.Com) graduates. This is 18 years research oriented degree equivalent to M.Phil/MS as per HEC roadmap for Business Education. To-date, IBA has produced 13 M. Phil, 297 MBA (1.5) Years, 4718 MBAs, 633 BBAs, 1159 PGDs and 9 ABMs and they are making valuable services at both national and international level.