PESHAWAR: The Khyber Medical University (KMU) Senate has approved Rs3.8 billion a surplus budget for the financial year 2024-25.
The proposed expenditure is Rs.3,828.571 million, while the total estimated resources amount to Rs.4,158.95 million, resulting in a surplus of Rs.330.387 million, according to a statement issued here on Wednesday.
This approval was given during the 18th Senate meeting held at Governor House Peshawar, chaired by the Governor of Khyber Pakhtunkhwa Faisal Karim Kundi, the Chancellor of KMU.
Additionally, the Senate approved the minutes of the anomaly committee concerning the HEC policy, service structure, and faculty selection criteria.
Key attendees included VC KMU, Meritorious Prof. Dr. Ziaul Haq, Registrar KMU, Inam Ullah Khan Wazir, Secretary to the Governor Mazhar Irshad Khan, Former Justice Mian Muhammad Ajmal, Qaisar Khan Dy. Secretary Health, Javed Iqbal Additional Secretary HED, Arshad Ali Additional Secretary Finance, Jamshed Khan Additional Secretary Establishment KP, Syed Akhtar Ali Shah Police Department, Dr. Mazhar Saeed Director HEC, Prof Dr. Tauseef Aman, Prof Dr. Nasir Shah, Prof Dr. Zahid Aman, Prof Dr. Asmat Shaheen, Prof Dr. Naeem Prof Dr. Naeem Ul Haq and other senate members.
KMU Treasurer, Waseem Riaz, presented the revised budget for 2023-24 and the budget estimates for 2024-25. He credited the university’s surplus budget to the diligent financial management led by Vice-Chancellor Prof. Dr. Ziaul Haq and the entire financial team.
The approved revised budget for 2023-24 with surplus of Rs.474.906 million with receipts of Rs.4550.127 million and Expenditure of Rs.4,075.221 million, while the surplus budget for 2024-25 is Rs.330.387 million.
The new fiscal year’s budget includes provisions for establishing new institutes and stabilizing existing programs, with a significant amount allocated for these purposes.
Under Prof. Dr. Ziaul Haq's vision, KMU is implementing reforms to enhance transparency in the examination system, including computerizing the entire process.
An adequate budget has been allocated for this initiative.
Governor Khyber Pakhtunkhwa Faisal Kareem Kundi praised KMU’s surplus budget and emphasized the importance of maintaining this financial discipline. He appreciated the surplus budget and the associated expenditures and revenue sources of Khyber Medical University. He praised KMU's finance-related initiatives as a role model for other universities.
He encouraged the university to invest surplus funds in profitable projects and highlighted the need for allocating more budgets for scholarships to support deserving students.
After thorough discussion and deliberation, meeting unanimously approved the revised budget for 2023-24 and annual budget for 2024-25.
Copyright Business Recorder, 2024
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