Over the past few months Panjab University’s (PU) has been facing financial crisis and now the problem has aggravated more due to non-sanctioning of sufficient funds from the Ministry of Human Resources (MHRD).
Due to the insufficient grants, it would be difficult for PU to pay salaries to its employees from September. Panjab University’s Board of Finance had approved a budget of Rs 506.55 crore for the year 2014-15, out of which 20 crore is to be provided by the Punjab government and the remaining is provided by the Centre.
This year, there has been a delay in the release of funds by the Centre and as observed in the meeting, the deficit for 2014-15 has come to be Rs 193.81 crore.
Only few months back Akhil Bhartiya Vidyarthi Parishad had filed a complaint with the MHRD, alleging misappropriation in funds by the University authorities.