LAHORE: Punjab University Syndicate’s 1755th meeting chaired by Vice Chancellor Prof Dr. Khalid Mahmood on Friday recommended Rs19.6 billion budget for the approval of Senate for the year 2024-25.
In the budget, Punjab University has increased scholarships for needy and talented students from Rs247m to Rs380m in order to provide them with financial assistance.
On the direction of the vice chancellor to increase PU’s international ranking further and socio-economic impact research, the university administration has allocated Rs229 million, as per its policy to promote research culture.
The vice chancellor briefed that QS has declared Punjab University the most improved university in Asia in the last 5 years due to its special focus on all academic spheres. According to other salient features of the budget, special students will also be provided with free education along with boarding facilities while students taking admission on sports basis will be provided with free education. The university will continue to waive off tuition fee of Hafiz-e-Quran. Moreover, HEC scholarships worth 122 million rupees and PEEF scholarships will also be provided to students. The deficit of Rs2 billion would be managed by introducing new market based programs, reducing expenditures and adopting austerity measures.
On this occasion, the Syndicate members appreciated the efforts of the University for Overall Improvement in the university. In the budget, Punjab University would continue to provide subsidies of millions of rupees to the students in hostels in addition to the above, subsidy on electricity bills in teaching departments is also being provided. PU has allocated Rs2.3 billion for development projects.
President Punjab University Academic Staff Association Dr. Amjad Abbas Magsi while taking to Business Recorder appreciated the increase in allocation of research budget. However, while showing his reservation on the utilization of the budget Magsi said. Rs264 million were allocated in 2023-24, but only Rs209 million were utilized. He further said no research projects were granted in the year 2023-24. Research funding is very necessary for the University. There is a need for enhanced funding from HEC for the University.
Copyright Business Recorder, 2024