The objective of the study was to determine content validation of Higher Education Commission's quality assurance indicators used for self-assessment of academic programs at universities. The recommendations of the study might be helpful for HEC, university authorities, teachers, students and policy-making agencies to assure quality of education at higher education level. Total forty faculty members from eight public sector universities from Punjab province randomly consulted as experts in this study and answered a rating scale. The rating scale derived from HEC quality assurance indicators, 'Survey of Graduating Students' input on quality of education was administered. The results determined the content validity of quality assurance indicators with reformulations. Quantitative and qualitative data was analyzed focusing percentage, mean value, and standard deviation. Demographic effects were measured by calculating ANOVA statistics. It was noted that majority of the experts restated and given comments on existing indicators. The results confirmed that the procedure of content validation of indicators is indispensable for the development of self-assessment mechanism. These indicators provide base line for taking measures regarding quality of education through self-assessment mechanism. Quality of education can be enhanced through a quality assurance system and quality assurance system stays alive based on self-assessment process.