The Punjab University Syndicate has approved university's Rs 2.383 billion budget for the year 2007-08, which is higher than last year's Rs 1.836 billion. The budget was approved PU Syndicate in its 1673rd meeting chaired by vice-chancellor Lieutenant General Arshad Mahmood (Retd) on Wednesday.
According to budget estimates, the PU will generate Rs 1.457 billion (61-percent) from its own resources and expect Rs 926 million (39-percent) grant from the Higher Education Commission (HEC). The PU expects to generate income of Rs 672 million (46-percent) from its examination department and Rs 288 million (20-percent) from its registration and degree fees.
It will also earn Rs 91 million from on campus students' tuition fee, Rs 87 million from self-support, Rs 71 million from self-finance, Rs 70 million from utility charges and Rs 178 million from other resources.
Besides spending recurring budget and expenditure on ongoing projects, the Punjab University will spend Rs 161 million to pay higher salaries after revision of pay scales/allowances, increase in pension and up gradation of teaching/clerical D-class employees; Rs 40 million for the impact of financial and planning committee; Rs 18 million for the impact of newly recommended posts; Rs 212 million to pay recurring and Rs 434 million non-recurring cost of Scheduled New Expenditure (SNE).
The Punjab University will fill 33 teaching posts and 198 administrative posts this year. Addressing the Syndicate members, Arshad Mahmood said the university had done a robust planning to fulfil the needs of students belonging to less privileged families and those coming from remote areas.
He said the University had the tradition of talent hunting from rural and remote areas to upgrade the quality of life of Pakistani citizens. Despite the stoppage of a portion of grant by the HEC, he said the university had enhanced the rate of scholarships from Rs 9,000 to Rs 12,000 to be given on merit and need basis. He said the university would offer 3,000 scholarships in each category.
He said the university had this year also enhanced the research scholar/research assistant remuneration from Rs 10,000 to Rs 15,000; the honorarium for demonstrators had been increased from Rs 1000 to Rs 5000; the main library would be given additional Rs 10 million for the purchase of new books as well as Rs 15 million for its renovation.
Arshad said the university had also allocated Rs 30 million for students' hostel infrastructure, Rs 8 million for the purchase of two new buses for students and employees; Rs 6 million for benevolent fund and Rs 7.5 million for the payment of compensation to the bereaved families.
He said the university would spend Rs 50 million on the provision of medical facilities, allocated Rs 20 million for hospitalisation of university employees and Rs 4.73 million for the purchase of machinery lab and emergency unit equipment at the PU Health Centre.
He said the university had allocated Rs 10 million for the purchase of laptop, computers and multimedia to enhance teachers' capabilities. It has also allocated Rs 20 million for overseas scholarships for faculty members. PU Registrar Professor Dr Muhammad Naeem Khan gave a budget presentation to the Syndicate members.
He said the university had done aggressive planning and took bold initiatives without considering the fact that the HEC had stopped university's grant. He said the university's financial health was stable and had ample resources to meet its requirements without burdening its students.
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