Absconder scholars have inflicted a loss of Rs.61.296 million to the provincial government of Khyber Pakhtunkhwa, said the Audit Report on the accounts of KP departments.
During the financial years, 2013-15, the Institute of Management Sciences Peshawar it was observed that scholarships were awarded to scholars in various fields of studies under the Higher Education Commission (HEC) funded project 'Development Institute of Management Sciences, Peshawar' during 2008-09.
These seven faculty members did not return to the institute after completion of their studies in violation of agreement. Thus, the institute sustained a loss of Rs.61.296 million.
According to clause 4 of the agreement deed signed with scholars, upon completion of the term of his award, he shall serve the Institute of Management Sciences, Peshawar for a period of not less than five years and they have produced two sureties that are jointly responsible and stand bound by this agreement and guarantee the scholar performs his promises/undertaking in letter and spirit.
In event of default of the 'Scholar' the sureties shall indemnify and pay to institute, the said amount in full. Similarly, as per clause-6 of the agreement deeds signed with scholars, in the event of any breach of the terms the scholars will be liable to pay on demand 5 million as liquidated damages to the Institute of Management Sciences Peshawar.
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