Published On: Sun, Jan 5th, 2014
Published in Category: Lahore

PU to earn Rs 780m a year for leasing out 50 Kanal land

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LAHORE: Punjab University Syndicate meeting Saturday decided to discuss proposed agreement between PU and a private bus company regarding lease of 50 Kanal land near Faisal Town for Rs 780 million per year to meet university’s expenditures.

The Syndicate decided to summon its meeting next week to take up the important matter and also ordered put it up as regular agenda of the meeting.

The meeting was presided over by PU VC Dr Mujahid Kamran in which additional secretary Higher Education Department Punjab Ali Bahadur Qazi, Additional Secretary Finance Department Muhammad Usman, HEC representative Rozina Alam Khan, Prof Dr Liaqat Ali, Prof Dr Shaukat Ali, Dr Asmatullah, Javed Sami, Shumaila Gul, Dr Amjad Saqib, Irum Bukhari and Registrar Prof Dr Khan Rass Masood participated.

It is pertinent to mention here that the HEC provided less than 1/3 part of university’s Rs 5 billion budget i.e. Rs 1.6 billion while the university met 2/3 of its expenditures through its own income resources.

A PU spokesman has said that the university charged around Rs 100 million fees from students out of which Rs 70 million were provided to students in terms of fee waiver and scholarships.

The spokesman said that university had allocated Rs 100 million for promotion of research culture while it was paying Rs 75 million for foreign PhD program of its faculty members on its own so that the number of PhD faculty members could be increased.

He said that the university needed funds for establishment of laboratories, purchase of new buses and other development works. He said that if Syndicate approved the proposed agreement, as the Syndicate had the authority to approve or disapprove the proposed deal, the university would be able to help meet expenditures.

It is pertinent to mention here that Punjab University earns Rs 45 thousand per year for leasing per acre land for agricultural purposes and if PU leases out 50-Kanals of land for agricultural purpose, it will earn only around Rs 3 hundred thousand a year. But, he said, the university would earn Rs 6.5million per month for leasing this 50 Kanal land, amounting to Rs 780 million per year and annual increase would be 10 percent.

The spokesman said that because of financial problems being faced by all the universities, Higher Education Commission and Punjab Government had written letters to universities to increase income through their own resources.

The spokesman said that because of financial crunch, 5 universities of the country had to take loans from banks for payment of salaries of their employees while Punjab University avoided such crisis because of its financial policies.

The spokesman said that the government increases salaries and pensions of employees every year in the budget but does not provide funds to the universities to bear additional burden, which is again reflected on the university’s budget.
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