The University of the Punjab came into existence on 14th October 1882 and the faculty of Commerce was established during the session 1919-1920.In 1922 the Faculty of Commerce recommended to start a Bachelor Degree in Commerce in place of this diploma.The idea was strengthened with the establishment of Northern India Chamber of Commerce in 1923 at Lahore.This problem was overcome by generous offer of Sir Ganga Ram to denote his residential building "Nabha House" opposite the University grounds for use of establishing a College of Commerce.The Government of Punjab in return agreed to provide a recurring grant of Rs. 42000 and a non-recurring grant of Rs.10000 for furniture and other expenses.

College was established on 4th March 1927 the name of,then Governor of the Punjab and the Chancellor of the University SIR Malcome Hailey.The primary aim of the college is to impart sound and high class education and training in the field of Commerce.Presently, the College is spread over a vast area in the beautiful lush green grass surroundings with the canal on one side and University Law College on the other.It has also the privilege of having the main mosque in its vicinity.

The number of students ,these premises were considered insufficient to meet the College requirements.   The idea to shift the college to the new University Campus was greatly developed during Golden Jubilee Celebration in 1977,and was shifted to the new campus on 23rd September,1978 and temporarily housed in Hostel No. 15 and the present premises were inaugurated on 1st January 1981.

A beautiful Table Tennis Court was denoted by M/S Service Industries Limited in 1987 and a squash Racket Court has been constructed by the college in the other corner of the grounds.