University of the Punjab (PU) Syndicate meeting has approved the budget of Rs 9.39 billion. It was also decided in the meeting that the varsity will not increase the fee of on-campus students in spite of the financial pressure whereas it will increase the research grant from Rs 165 million to Rs 380 million.
As per the details, a meeting of the syndicate was conducted under the chairmanship of Vice Chancellor of University Prof Niaz Ahmed to discuss the recommendations of the budget of Punjab University for the fiscal year 2019-2020, in which the syndicate recommended the approval of a budget of Rs 9.39 billion to the Senate.
The budget also involves the research grants to increase the research activities and subventions to lessen the financial burden on the university students.
Punjab University to get a grant from Higher Education Commission
Next year, University of the Punjab is expected to receive a grant of Rs 2.5 billion from the Higher Education Commission (HEC), which is actually 27.6% of the total budget, whereas the university will get 72.4% of the budget from its own resources.
Punjab University will cover the shortage of Rs. 431 million by decreasing expenditure and by taking different steps. Moreover, the university has decided to set up a Center for Health and Safety and Institutional Research.
As per the other salient features of the budget, the special students will also be provided along with the free education accompanied by the boarding facilities whereas the aspirants admitted in the university on the basis of sports will be provided free education facility. Furthermore, the university will continue to waive off the tuition fee of Hafiz-e-Quran.
Other Details of Presented Budget
University of the Punjab will provide Rs 152 million scholarships to the aspirants. Besides, HEC scholarships of worth 97 million rupees and PEEF scholarships will also be granted to the deserving candidates. In the budget, the varsity is providing Rs 209 million Hostel funding, Rs 34 million transport funding while Rs 38 million internet funding to the aspirants. The funding on electricity bills in teaching departments is also being offered. The university will also continue overseas scholarship scheme for teachers. PU has allocated Rs 149 million for the development projects.