Anxiety plays a very dynamic role in the academic performance of the students. A normal level of anxiety is beneficial for students. It motivates students for study and hard work that results into a prosperous future, but high level of anxiety badly affects the students learning process. This study explains the students’ anxiety and academic achievements of the MS-Library and Information Science students of Sarhad University of Science and IT, Pakistan. Survey based quantitative approach was applied for data acquisition. Descriptive statistics was used to analyze the data. Lack of motivation from teachers, class tests, and assignments were regarded as the most vibrant factors that enhance students’ anxiety about the subject of statistics. It was recommended that encouragement and motivation to students from teachers and enhancement of pedagogical skills of teachers are the sources that can be used to minimize the anxiety of students and will improve the academic performance of the students.