Globalization and market-based orientation of higher education institutions has increased interest of students, parents, employers, universities, funding agencies, governments, and relevant stakeholders in knowing the rank of their concerned universities at national/global level. This has led to the emergence of several global university ranking systems. Aligned with international trends of ranking, Higher Education of Pakistan [HEC] also initiated ranking of universities at the national level in Pakistan. Subsequently, HEC designed comprehensive ranking criteria for ranking of universities and has implemented it since 2010. This study analyzes the nature of HEC ranking criteria and its constituent indicators from the perspective of global university ranking systems. Using content and thematic analysis, this study found that global university ranking systems mainly focus quality of research and teaching, while HEC additionally focuses effective and efficient use of resources, provision of facilities, social integration, and impact on community development.