UoP estimates deficit budget for fiscal year 2012-13

Amid the growing financial crunch and absence of required funds by Higher Education Commission, the University of Peshawar estimated a deficit budget of Rs 2812 million for next financial year 2012-13.
According to budget estimates, the University of Peshawar desperately needs Rs 400 million on emergency basis to run financial matters of affiliated schools and colleges as Higher Education Commission has not provided funds after the devolution of educational matters to provinces under the 18th Constitutional Amendment. For the purpose, the University of Peshawar intends to acquire a grant of Rs 400 million annually to run the financial affairs of its constituent institutes.
The University has estimated a deficit budget of Rs 2812 million for next financial year 2012-13, presented before its Finance and Planning Committee to meet its recurrent financial requirements here on Thursday. In this regard, the committee meeting held here under the University Vice Chancellor, Professor Dr Qibla Ayaz in chair.
On the occasion, the University registrar Dr Syed Fazli Hadi and representatives from Khyber Pakhtunkhwa finance and higher education department were also present. According to budget estimates, the receipts including government grants and those from University own resources for the coming fiscal year were estimated at Rs 1565 million with a annual deficit of Rs 1247 million.